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Question 1 The official U
Question 1 The official U.S. poverty standard was set in 1963 at $3,000 per year for a family of four. True False
Question 2 The U.S. government counts both cash income and in-kind transfers when determining the poverty rato. True False
Question 3 Sule In-kind transfers include housing subsidies and food stamps. True False
Question 4 The redistribution of private income and wealth within poor nations is sufficient to eliminate global poverty, True Falso
Expert Solution
Answer 1. True
reason- In 1963, the official US poverty standard was set at $3000 for a family of four. in 2014 this threshold was about $23850.
Answer 2. False.
reason- Cash transfers and in kink subsidy are not included are not used while determining poverty rate.
Answer 3. True
Reason- transfers include food stamps, housing subsidy, medicaid etc. These are non monetary transfers.
Answer 4. False.
Reason- Redistribution of income and wealth within poor nations is not sufficient to eliminate world poverty.
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