Answered: The refers to the specific amount of…

The refers to the specific amount of income needed for a basic standard of living. poverty trap income line income gap poverty line

Principles of Microeconomics

7th Edition

ISBN:9781305156050

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter20: Income Inequality And Poverty

Section: Chapter Questions

Problem 1QR

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Question

The
refers to the specific amount of income needed for a basic
standard of living.
poverty trap
income line
income gap
poverty line

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