Measuring poverty using an absolute income scale like the poverty line can be misleading because
a. income measures do not include the value of in-kind transfers.
b. money is valued less highly by the poor than by the rich.
c. the poor are not likely to participate in the labor market.
d. income measures are adjusted for the effects of labor-market discrimination.
A
Economics
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When the natural unemployment rate changes, what happens to the short-run Phillips curve? To the long-run Phillips curve?
What will be an ideal response?
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Luxury goods have income elasticity:
A) of less than zero. B) between zero and one. C) equal to one. D) greater than one.
Economics