Question

Which of the following is a reason why the nature and extent of vertical inequality are important?

1. It is important for creating a just society where happiness tends to be higher in more egalitarian societies.
2. It impacts the level of poverty for a given national income per capita.
3. It is directly related to the growth rate of national income.
4. It is not a significant factor in societal well-being.

• A. i, ii
• B. ii, iv
• C. i, iii
• D. i only

Answer 1

Answer:

A. i, ii

• Vertical inequality refers to inequality among individuals or households.

• The nature and extent of vertical inequality are important for a number of reasons.

• One is that of creating a just society because happiness tends to be higher in an egalitarian or more equal society.

• Secondly, the extent of inequality, for any given national income per capita, determines the level of poverty.