What are some measurement issues involved in accurately measuring poverty?
What will be an ideal response?
First of all, critics argue that the income measurements for the level of poverty are arbitrary and are an inadequate measure of poverty. Others also note that the cost of living in major cities is considerably higher than the official poverty levels. This means that poverty may be hidden in urban areas where households who earn above the poverty level are not able to meet food, housing and healthcare needs. Others argue on the opposite end, that using income as a means of measuring poverty overstates the number of poor. They note that when household consumption is used to measure poverty levels, the level of poverty is substantially diminished. They argue this occurs because homes are able to use savings, loans and the sale of assets to fund consumption and can receive income supplements such as Supplemental Nutrition Assistance Program (SNAP) benefits and rent subsidies.
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A firm's horizontal dimension refers to
A) its size in its primary market. B) its size in all markets in which is competes. C) the level of supply chain integration the firm undertakes. D) the number of stages in the production process that are upstream from the stages the firm undertakes.
The Medicare tax is applied only to the first $87,000 of income
a. True b. False