As economic development proceeds, income inequality tends to follow a(n) ________curve.
Show Hint
- asymptotically convex
- inverted U-shaped
- V-shaped
- S-shaped
The Correct Option is B
Solution and Explanation
Step 1: Early development leads to higher inequality due to factors such as urbanization and industrialization.
Step 2: Over time, as development progresses and social policies take effect, inequality begins to decrease, forming the inverted U-shape.
Step 3: Conclusion.
Thus, the income inequality curve typically follows an inverted U-shape as economic development progresses.
Final Answer: (B) inverted U-shaped
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