Some economists argue that the official poverty figures overstate poverty in this country. Why?
What will be an ideal response?
Official poverty figures do not include in-kind subsidies, which would lift some people above the official poverty cutoff. They also do not include income from the underground economy. Someone who works for cash and does not report it to the government has a higher income than official statistics indicate.
Economics
You might also like to view...
Banking crises have occurred throughout the world. What similarities do we find when we look at the different countries?
What will be an ideal response?
Economics
"Value added" is defined as:
a. the price of the product multiplied by the quantity produced. b. total sales revenue divided by the quantity produced. c. total sales revenue minus sales taxes. d. the value of total product minus raw materials costs.
Economics