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c. An inflation-adjusted annual income of $10,000 per person is OA. an absolute measure of poverty, and poverty will be eliminated when economic growth raises the inflation-adjusted annual income of everyone above $10,000. OB. a relative measure of poverty, and poverty will be eliminated when economic growth raises the inflation-adjusted annual income of everyone above $10,000. OC. an absolute measure of poverty, and these individuals will very likely live in poverty forever. OD. a relative measure of poverty, and poverty will be eliminated when the inflation-adjusted annual income of these individuals falls below $10,000.

c. An inflation-adjusted annual income of $10,000 per person is OA. an absolute measure of poverty, and poverty will be eliminated when economic growth raises the inflation-adjusted annual income of everyone above $10,000. OB. a relative measure of poverty, and poverty will be eliminated when economic growth raises the inflation-adjusted annual income of everyone above $10,000. OC. an absolute measure of poverty, and these individuals will very likely live in poverty forever. OD. a relative measure of poverty, and poverty will be eliminated when the inflation-adjusted annual income of these individuals falls below $10,000.

Principles of Microeconomics
Principles of Microeconomics
7th Edition
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter20: Income Inequality And Poverty
Section: Chapter Questions
Problem 2CQQ
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c. An inflation-adjusted annual income of $10,000 per person is OA. an absolute measure of poverty, and poverty will be eliminated when economic growth raises the inflation-adjusted annual income of everyone above $10,000. OB. a relative measure of poverty, and poverty will be eliminated when economic growth raises the inflation-adjusted annual income of everyone above $10,000. OC. an absolute measure of poverty, and these individuals will very likely live in poverty forever. OD. a relative measure of poverty, and poverty will be eliminated when the inflation-adjusted annual income of these individuals falls below $10,000.
Transcribed Image Text:c. An inflation-adjusted annual income of $10,000 per person is OA. an absolute measure of poverty, and poverty will be eliminated when economic growth raises the inflation-adjusted annual income of everyone above $10,000. OB. a relative measure of poverty, and poverty will be eliminated when economic growth raises the inflation-adjusted annual income of everyone above $10,000. OC. an absolute measure of poverty, and these individuals will very likely live in poverty forever. OD. a relative measure of poverty, and poverty will be eliminated when the inflation-adjusted annual income of these individuals falls below $10,000.
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