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Microeconomics

13th Edition
Roger A. Arnold
ISBN: 9781337617406

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BuyFindarrow_forward

Microeconomics

13th Edition
Roger A. Arnold
ISBN: 9781337617406
Textbook Problem

Can more people live in poverty at the same time that a smaller percentage of people live in poverty? Explain your answer.

To determine

Check whether more people can live in poverty at the same time, even when the percentage of poor people is small.

Explanation

The number of people who live in poverty may be more than the percentage of poor people in the country. For example: If a country has 10 people who live in poverty out of 100 people, then poverty rate is 10 per cent in the economy...

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