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Which one of the following is the most appropriate reason for Inequalities in Income ?
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- Racial factors
- Lack of opportunities
- Inheritance from family Environment
- Differences in Ability
- Racial factors
Correct Option: B
Joseph E. Stiglitz, a Nobel laureate in economics, has pointed how lack of opportunity leads to widening of inequality. It leads to concentration of income and wealth at the top, the hollowing out of the middle, and increasing poverty at the bottom.
