Why Has Poverty Been a Long-Term Problem in the United

question 72

Essay

Why has poverty been a long-term problem in the United States? What might explain why poverty has been such a persistent problem over time? What can policy makers do to reduce poverty?

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Definitions:

Expected Utility

A theory in economics that calculates the utility expected from different choices to assess risk and make decisions.

Income

The financial gain that an individual or business receives, usually from employment, business activities, or investments.

Utility Function

A mathematical representation of how a particular good or set of goods generates satisfaction or utility for an individual or consumer.

Flood

An overflow of water that submerges land which is usually dry.