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Consider a 12-person economy where the individuals are employed equally across the sectors. If the modern urban wage = 8, the informal urban wage =

Consider a 12-person economy where the individuals are employed equally across the sectors. If the modern urban wage = 8, the informal urban wage = 3, and the tradition rural income = 1, what is the squared poverty gap index (P2) given that the poverty line = 1.25? Suppose that rural income now rises to 2, other things being equal, how would you characterise and show this type of growth?

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