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Income distribution and welfare

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Question 12

Which of the following is the standard economic definition of absolute poverty?

A state where a household's income is below 60% of the national median income.

A state where a household lacks the minimum resources necessary to sustain basic life, including food, clean water, and shelter.

A state where welfare benefits are high enough that individuals face no financial incentive to find employment.

A state where workers earn less than the voluntary living wage calculated for their localized region.

Income distribution and welfare Questions

  1. A Level
  2. /Economics
  3. /Income distribution and welfare