Final answer:
Increasing inequality within countries impacts individuals differently based on their position in the income distribution and can affect economic dynamics.
Explanation:
Inequality within countries can have significant effects on individuals and the overall economy. Higher levels of inequality can lead to increased desperation for those at the bottom of the income distribution while potentially benefiting those already well-off. In low-income countries, where inequality tends to be more pronounced, comparing living standards becomes crucial to understand the true picture of well-being.
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