Question 1 Define poverty and explain two or more of its causes. Referring to Fi
ID: 1119892 • Letter: Q
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Question 1 Define poverty and explain two or more of its causes. Referring to Figure 14.2, p.309 of textbook, why did poverty rates first fell, then stagnated, and finally increased in recent year? Your opinions are welcome, but must be supported by facts. What is meant by a "poverty trap"? First use Figure 14.3, p. 312 to explain the technical part of the question, before expressing your opinion(s) a. b. c. d. List, with brief explanations, the various programs that make up the "Safety Net" in the U.S. Which one of them do you think is best for the poor, and which is best for the country (everyone both poor and rich).Explanation / Answer
Answer a- Poverty can be defined as a state of being poor and not being able to afford a good standard of living. Though there can be many causes of poverty but the 2 major causes of poverty are as follows:-
1) Lack of education, which makes the young illiterate and unskilled thus eventually leading the poor to a more poorer state.
2) Corruption can also be one of the major causes as due to corrupt leaders the poor section of the society doesn't get much development.
Answer b- The main cause of the falling poverty rate in the 1960's was due to recession in the USA. during this recession period the USA's GDP fell to approximately 1.6%. Which led to providing better medicare services and greater financial spending to fight the war against poverty. Thus, due to upcoming plans to alleviate poverty it staggered in the intial year and die to improvements in the poverty alleviation plans it rose eventually.
Answer c- It refers to an increase in income which will be offset by a decrease in the benefits received thus, eventually leading to no benefit at all. And according to the given figure even if the family working hours rises to say 2300 hours the marginal gain would remain the same and thus, leading to no or little benefit at all.
Answer d- Safety net refers to the services provided by the government, or some institution for societies welfare for betterment of the society. Some of the safety net benefits are as follows:-
The social security Act which has reached 60 million Americans with approximately more than $800 billion benefits.
Unemployment insurance- In this insurance is provided o those who got unemployed due to no fault of their own.
Supplimentak Nutrition Assistance Program
Medicare and medical benefits provided to the porr for the betterment of the society.
Acoording to me the Unemployment benefit is the most beneficial along with the HEAD START which providdes education facilities to the poor leading them to some better standard of living.
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