3 Look at these eight explanations or definitions of poverty. Discuss with another student the distinguishing features of the different explanations (spoken or written) and try to identify the type of source for each. Give reasons for your decisions. What is Poverty? a The situation or experience of being poor. b is the inability to attain a minimal standard of living. It can be expressed either in absolute terms (total numbers living below a certain per capita income level) or relative terms (compared with the average standard of living of the country as a whole). First we will consider absolute poverty, c When poverty comes in at the door, love flies out of the window. d The situation facing those in society whose material needs are least satisfied. Poverty can be defined by some absolute measure ... or in relative terms ... In either case it is necessarily an arbitrarily defined concept. e It means not having enough to live on in terms of food and shelter and the other basic necessities of life. The poor old man is badly off; he's always hard up and needs everything he can get & The greatest of evils and the worst of crimes is poverty, h The Social Surveys of London, Liverpool and other towns round about 1929 showed that there remained perhaps ten per cent of the urban population below the 'poverty line', even outside the depressed areas.
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- The FGT0 measure does not reflect the depth of poverty below the poverty line. [6] (i) Suggest a specific income transfer within this economy that demonstrates this limitation of FGT0. Take $1 from person 2 and give it to person 4. This makes person 2 poorer in absolute terms, but does not change FGT0. (ii) Compute FGT0 after the transfer. Still 3/6. (iii)Discuss why this feature limits how useful FGT0 is as a measure of poverty. FGT0 is not able to capture changes among the poor. For example, the desperately poor could become much better off and, as long as they weren’t so much better off that they cross the poverty line, we would see no improvement in poverty as measured by FGT0.arrow_forward1arrow_forwardExplain how income, wealth, and poverty are measured, and how their real-world measures changed over time.arrow_forward
- 1. relative or absolute 2. relative or absolute 3. little or substantial 4.relative or absolute 5. Supplemental or Social 6.Supplemental or Social 7. earned income or dependent care 8. Disability or Nutrition Only typed answerarrow_forwardThe Poverty line 1.What level of income is defined as being below the poverty line in Jamaica ? 2. How many Jamaicans were below the poverty line in Jamaica as stated in the last set of figures available? (not before 2016). Poverty Reduction 3. Describe two ( 2) initiatives of the Jamaican government aimed at lessening poverty in Jamaica embarked on over the past 5 years ? Hunger in Jamaica 4.Do you agree with the findings of the Borgen Project(( found in your readings) express your views about what is stated in the report of this project, in a one(1) page response.arrow_forward7. Which of the following interventions will address the concern on poverty and unequal distribution of income? a. Free Tuition and Matriculation in all levels. b. Free and accessible health services for all. c. Free housing for the urban poor. d. All of the above.arrow_forward
- BUS202 CH15 01 How do Economists define Poverty? 1. Economist define the concept of poverty as an economic state where an individual or household level of income is below a level of annual income necessary to provide a minimum or basic standard of living. 2. The poverty rate is directly rélated to how income is distributed within a society. Per capita income in 2015 and 2016 is estimated at $56,850 and $62,606, respectively. 3. A minimum standard of living refers to the ability of an individual to acquire food, clothing and housing at an adequate level to avoid economic distress. 4. The U.S. government economists evaluate the cost to individuals and households to acquire food, clothing, and housing to maintain a minimum healthy lifestyle. 5. The bench market for the income level necessary to maintain a basic standard of living is based on USDA Research that uses a baseline cost estimate associated with maintaining a healthy diet of 1800 to 2300 calories per day. ¢ YouTube Q [3 5:09 /…arrow_forwardQuestion 15 Which of the below statements is INCORRECT with regard to poverty in the U.S.? The poverty threshold was created my Mollie Orshansky of the Social Security Administration, in the 1960s. The "poverty threshold," "poverty guidelines" and "poverty line" are identical numbers and are all used for exactly the same purpose. For the year 2021, a single individual making less than $12,880 in any of the 48 contiguous states, falls below the poverty line. For the year 2021, a four person family making less that $29,200 a year in any of the 48 contiguous states, falls below the poverty line.arrow_forwardWhich of the following statements are true about income inequality? Choose all that apply. A. Income inequality in the United States can be largely blamed on corruption. B. Extreme income inequality can be harmful to society C. Income inequality in the United States has improved dramatically over the last few decades D. Income inequality will likely always exist in free societies with free marketsarrow_forward
- Why do national and global scale events such as the Great Recession have different effects indifferent neighborhoods and places? Why does the unevenness and inequality tend to persist alonglines of race and income?arrow_forwardDiscuss some methods of measuring poverty and inequality. How can public policy be used to alleviate poverty and reduce inequality in Pakistan?arrow_forwardNeed instant.absuletly upvote.arrow_forward
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