Term the minimum income level below which a person is considered to be living in poverty ?

Related Mcqs:

1. If the income tax rate changes from 30% to 40% on income over Rs30,000 and a person’s income is Rs 31,000 then her marginal tax rate is ?

   A. 30%
   B. 10%
   C. 70%
   D. 40%

2. The Human Development Report 2003, which assumes that poverty is multidimensional calculates a human poverty index based on which of the following measures of deprivation ?

   I- probability at birth of not surviving to age 40
   II- adult illiteracy rate
   III- negative economic growth
   IV- lack of a decent standard of living

   A. I and II only
   B. III and IV only
   C. I, II and III only
   D. I, II and IV

3. The World Bank’s GNP per capita classification for low income middle income and high income countries respectively is ?

   A. less than $900, $900-$9000 and more than $9000
   B. less than $5000, $5000-$15000 and more than $15000
   C. less than $100, $100-$1000 and more than $1000
   D. less than $5000, $5000-$150000 and more than $150000

4. A tax for which high income taxpayers pay a smaller fraction of their income than do low income taxpayers is known as ?

   A. a proportional tax
   B. a regressive tax
   C. an equitable tax
   D. a progressive tax

5. In 2003, the UN Development Program estimated that a 1-percent LDC per capita consumption growth, with income inequality unchanging, would reduce the poverty percentage by _________ percent yearly?

   A. 0
   B. 2
   C. 6
   D. 0.5

6. The long run equilibrium level of national income is the level at which ?

   A. economic growth is Zero
   B. All investment is used in the manufacturing sector
   C. Economic growth is growing
   D. All investment is used to maintain the existing capital stock at its current level

7. In Pakistan the term the poverty trap is used to describe the fact that ?

   A. poor people are excluded from most leisure and social activities
   B. the Pakistan benefit system makes being poor vary degrading
   C. if poor people earn more their benefits fall, making them no better off.
   D. in the Pakistan poor people are heavily taxed

8. If in Pakistan real GDP/person in 2004 is Rs18,073 and real GDP/person is 2005 is Rs18,635 What is the growth rate of real output per person over this period ?

   A. 3.1 percent
   B. 3.0 percent
   C. 18.6 percent
   D. 18.0 percent

9. Suppose your income rises from Rs19,000 to Rs31,000 while the CPI rises from 122 to 169 Your standard of living has likely ?

   A. fallen
   B. You can’t tell without knowing the base year
   C. risen
   D. stayed the same

10. The government increase the minimum wage. The National Association of Fast Food Restaurants hires you to determine the impact that this higher minimum wage will have on it industry. This is an example of ?

    A. industry equilibrium analysis
    B. specific equilibrium analysis
    C. partial equilibrium analysis
    D. general equilibrium analysis