Author Question: What is poverty and how does its incidence vary across the races? What will be an ideal ... (Read 35 times)

dejastew · **on:** Jun 29, 2018

What is poverty and how does its incidence vary across the races?

What will be an ideal response?

Question 2

Trade restrictions are often motivated by a desire to save domestic jobs threatened by competition from imports. Which of the following counter-arguments is made by economists who oppose trade restrictions?

A) Trade restrictions benefit consumers in the short run but not in the long run.
B) Statistics show that trade restrictions actually do not save jobs.
C) Consumers pay a high cost for jobs saved through trade restrictions.
D) Trade restrictions have a limited impact because most Americans prefer domestic goods over imports.

missalyssa26 · **Reply #1 on:** Jun 29, 2018

Answer to Question 1

Poverty is a situation in which a household's income is too low to be able to buy the quantities of food, shelter, and clothing that are deemed necessary. Poverty is a relative concept. Minorities have historically been over-represented among those households living in poverty in the United States. In particular, 13 percent of white households live in poverty while 26 percent of Hispanic-origin households and 27 percent of black households lived in poverty.

Answer to Question 2

C