Suppose That the Government Were to Allow the Definition of Poverty

question 34

Essay

Suppose that the government were to allow the definition of poverty to change with the cost of living in different areas to fully offset a difference in cost of living.Discuss the potential moral hazards caused by this change.

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Definitions:

Manufacturing

The process of producing goods on a large scale using labor, machines, tools, and chemical or biological processing or formulation.

Samuel Slater

An industrialist known as the "Father of the American Industrial Revolution" for his role in bringing British textile technology to America.

First Factory

Referenced commonly as the birthplace of the industrial revolution, a facility where goods are manufactured or processed, with the first factories emerging in the 18th century.

Cotton Gin

A machine invented by Eli Whitney in 1793 that quickly and efficiently removes seeds from cotton fibers, revolutionizing the cotton industry.