One Cost-Of-Living Indicator Available on the Internet Shows That a Salary

question 34

Multiple Choice

One cost-of-living indicator available on the Internet shows that a salary of $40,000 in Santa Barbara, California, is equivalent to $14,000 in Wichita, Kansas. This is primarily because of housing, which is much less expensive in Wichita. What does this difference say about how the federal government calculates poverty?

• A) It highlights something the poverty line shows us: that poverty is connected to the local cost of living, reflected in the differences in rates of poverty in different parts of the country.
• B) It shows that the poverty line is more or less accurate, because it has been recalibrated to take into account housing costs.
• C) It doesn't really relate to the way the government calculates the poverty line, because the cost of food is the biggest item in most families' budgets.
• D) It points to a flaw in the way the government calculates the poverty line, as the standard is uniformly applied without regard to regional differences.
• E) It points to a flaw in the way the government calculates the poverty line, as it proves there are far more poor people in the Midwest.

Understand the importance and characteristics of operational excellence in firms.

Differentiate between goals and objectives in marketing strategies.

Recognize aggressive marketing strategies and how they apply to companies like Google.

Comprehend the concept and application of SWOT analysis.

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Definitions:

Business Consolidation

The process of combining two or more companies into a single entity, often to increase efficiency and reduce competition.

Trustbusting

Government activities aimed at breaking up monopolies and trusts (large business entities) to foster competition and prevent market domination, prominently associated with the early 20th century.

Upton Sinclair

An American writer and social activist known for his novel "The Jungle," which exposed labor and sanitary conditions in the U.S. meatpacking industry, contributing to the passage of federal food safety laws.

The Jungle

A novel by Upton Sinclair published in 1906, exposing the harsh conditions and exploited lives of immigrants in the United States meatpacking industry.