How much the poor have relative to some measure of a reasonable "minimally acceptable" income level can be best described as:
A) relative income inequality.
B) the iron triangle of welfare programs.
C) absolute deprivation.
D) allocative inefficiency.

Question

Quizplus · Accepted Answer

The concept of "minimally acceptable" income level refers to a basic standard of living, below which individuals may experience severe deprivation of basic needs like food, shelter, and healthcare. The measure of how much the poor have relative to this standard is referred to as "absolute deprivation." Therefore, option C is the best choice. Option A, relative income inequality, refers to differences in income between different segments of society and does not specifically address the concept of a minimally acceptable income level. Option B, the iron triangle of welfare programs, is a term used to describe the interplay between Congress, interest groups, and bureaucracy in determining and implementing social welfare policies in the US. Option D, allocative inefficiency, refers to a situation where resources are not allocated in the most efficient or optimal manner.

How Much the Poor Have Relative to Some Measure of a Reasonable