When Exploring If the Poverty Line Is Set at a Realistic

question 18

Multiple Choice

When exploring if the poverty line is set at a realistic level,

• A)conservatives argue that the poverty line is set at too low level,noting that they believe total needs from spending on food is incorrect.
• B)liberals argue that the poverty line is set at too high a level,noting that the USDA itself estimates tha only 10% of the persons spending the amount allowed in the economy food budget are able to get a nutritionally adequate diet.
• C)radicals argue that the poverty line needs to be dismantle,no baseline sould be set for defining poverty
• D)None of the above

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Definitions:

GDP Deflator

A metric that assesses the prices of all new, internally produced final goods and services in an economic system, employed in the adjustment of nominal GDP to real GDP.

Real GDP

Real Gross Domestic Product (Real GDP) measures the value of all finished goods and services produced within a country's borders in a specific period, adjusted for inflation.

GDP

The total value of all produced goods and services within a country over a particular time period is what Gross Domestic Product (GDP) measures.

GDP Deflator

A measure of the level of prices of all new, domestically produced, final goods and services in an economy in a year, intended to adjust the nominal GDP to reflect changes in price levels.