Macroeconomics Poverty Flashcard

Front

What are some of the causes of poverty?

Back

Lack of education, unemployment, low wages, discrimination, and economic inequality

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How does poverty affect the economy?

Back

It reduces consumer spending, limits economic growth, and increases social costs.

Front

What are some government policies aimed at reducing poverty? Options: Cutting funding for education, Tax cuts for the wealthy, Reducing minimum wage

Back

Social welfare programs

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How is poverty measured in a country?

Back

Using indicators such as income level, access to basic necessities, and living standards.

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What are some strategies for alleviating poverty?

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Implementing fair labor laws, promoting economic development, and ensuring access to basic needs

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What are the social causes of poverty?

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Lack of access to education, discrimination, and limited job opportunities

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What are the economic effects of poverty on individuals and society?

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Poverty can lead to lower productivity, increased healthcare costs, and higher crime rates, which can all have negative economic effects on individuals and society.

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What role does education play in poverty alleviation?

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Education helps individuals secure better job opportunities and higher income, ultimately helping to break the cycle of poverty.

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What are some examples of successful poverty alleviation programs?

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Food Stamps, Medicaid & Social Security

Front

How does poverty impact access to healthcare and other basic needs?

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Poverty can limit access to healthcare and other basic needs due to lack of financial resources.