Poverty Is LEAST Likely to Be Eliminated When Using Which

question 48

Multiple Choice

Poverty is LEAST likely to be eliminated when using which form of measurement?

• A) an absolute poverty threshold
• B) the World Bank's $2 per day measure
• C) a relative poverty threshold
• D) a fixed annual dollar amount measure

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Definitions:

Ceteris Paribus

A Latin term meaning "all other things being equal," used in economics to describe a situation where all variables except those under immediate consideration are held constant.

Perfectly Competitive Industry

An economic model where many firms sell identical products, entry and exit are easy, and no single firm can influence the market price.

Market Price

The current price at which an asset or service can be bought or sold in the marketplace.

ATC

Average Total Cost, the total cost per unit of output when all fixed and variable costs are considered.