Ceteris paribus, if the cost of feeding and housing a family were to increase, what would this increase?

Question

Quizplus · Accepted Answer

The increase in the cost of feeding and housing a family would lead to an increase in a family's cost of living. If the increase is significant and the family's income remains the same or decreases, they may not be able to afford basic necessities such as food, healthcare, and shelter. This would result in a downward shift in their standard of living, leading to a higher level of absolute poverty.

Ceteris Paribus, If the Cost of Feeding and Housing a Family