ECONOMICS
INCOME DISTRIBUTION
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Absolute poverty
|
|
|
Relative poverty
|
|
|
Either A or B
|
|
|
None of the above
|
Detailed explanation-1: -For more information on the topic, read the 2022 Poverty and Shared Prosperity Report. 648 million people in the world, about eight percent of the global population, live in extreme poverty, which means they subsist on less than US$2.15 per day.
Detailed explanation-2: -Poverty measured at the international poverty line of $1.90 a day is used to track progress toward meeting the World Bank target of reducing the share of people living in extreme poverty to less than 3 percent by 2030.
Detailed explanation-3: -This formed the basis for the first dollar-a-day international poverty line. The IPL of $1.90, which was used until fall 2022, was derived as the mean of the national poverty lines of 15 poor countries in the 1990s, expressed in 2011 PPPs. The selection of these 15 poor countries was based on limited data at the time.
Detailed explanation-4: -The international poverty line is set at $2.15 per person per day using 2017 prices. This means that anyone living on less than $2.15 a day is in extreme poverty. About 648 million people globally were in this situation in 2019.