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Suppose the price level rises,but the number of dollars you are paid per hour stays the same.This means that your
Low-income Cutoff
A threshold used to identify individuals or families who devote a significantly higher portion of their income to basic necessities than the average household.
Size of Community
Refers to the physical dimensions or population numbers characterizing a community, which can influence its social dynamics, resources, and cohesion.
Relative Poverty
A condition where individuals lack the minimum amount of income needed to maintain the average standard of living in the society in which they live.
Absolute Poverty
A state marked by an extreme lack of fundamental necessities such as nutritious food, clean drinking water, hygiene amenities, healthcare, housing, schooling, and access to information.
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