Extreme Poverty Can Be Defined as a Condition Where ________

question 59

Multiple Choice

Extreme poverty can be defined as a condition where ________.

• A) people live on less than $0.75 per day
• B) people live on less than $5.00 per day
• C) people live on less than $1.90 per day
• D) people live on less than $2.00 per day

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Definitions:

Behavioral Economics

A field of economics that examines how psychological, cognitive, emotional, cultural, and social factors influence the economic decisions of individuals and institutions.

Neoclassical Economics

An economic thought framework that emphasizes the determination of goods, outputs, and income distributions in markets through supply and demand.

Behavioral Economics

A branch of economics that examines the impact of psychological, cognitive, emotional, cultural, and social influences on the economic choices made by individuals and institutions.

Hedonic Treadmill

The observed tendency of humans to quickly return to a relatively stable level of happiness despite major positive or negative events or life changes.