Answer to Question #271583 in Macroeconomics for Maphula

Question

Decide whether the following statements are True or False. 

a. Absolute poverty line, is simply determined from a cut-off point in the welfare 

distribution, like the income or consumption level below which, a certain per 

cent of the population is located. 

b. The second economy consisted of all production and exchange undertaken 

directly for private gain, knowingly illegal in some substantial way.

c. Economies that have both a fiscal deficit and a current account deficit are often 

referred to as having "twin deficits.

d. The Fourth Industrial Revolution represents a fundamental change in the way 

we live, work and relate to one another.

e. The ‘’green economy” is closely related to ecological economics but has a more 

politically applied focus. 

Answer 1

a. False. Absolute poverty lines are used to identify those who live below a predetermined standard of life. Absolute poverty limits are particularly tempting in developing nations when the focus is still on achieving minimal living standards for vast segments of the population.

b. True. The second economy included all production and transaction done only for personal benefit, was deliberately unlawful in some way, or both.

c. True. The term "dual deficits" is used to describe economies with both a fiscal and a current account deficit.

d. True. How we live, work, and communicate is changing as a result of the Fourth Industrial Revolution. It's altering practically every element of life, including governance, education, healthcare, and commerce. It can potentially change the things we value and the way we love them in the future.

e. True. It is closely connected to ecological economics, but it focuses on political applications. "To be green, an economy must be not only efficient but also equitable," according to the 2011 UNEP Green Economy Report. The number of these standards has lately increased, and they can now assist in developing a new, greener economy.