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Study Stack #1

Study Stack #1--Poverty in Canada

QuestionAnswer
What is absolute poverty Measures an essential basket of goods and services deemed necessary for physical survival
What is relative poverty Reflects the differences in income between the poor and the majority of society, rather than being a fixed standard
What are the three dimensions of the Multidimensional Poverty Index Living standards, education and health
What is the most common poverty measure in Canada? Low Income Cut-Offs (LICO)
What is the Market Basket Measure (MBM) Absolute measure based on the cost of purchasing a set basket of goods
What is the Poverty Gap The measurement of how much additional income is required to be above the poverty line
What provinces have the highest and lowers rates of poverty in Canada? BC has highest rate of poverty (11.5%) and PEI has lowest (3.9%)
What is the Low Income Cut Off for a single Canadian in 2017? $17,758
Created by: ElStrang
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