FINANCIAL MATH - REAL WORLD CLASSROOM (ROMAN) - LESSON 2.2 STANDARD OF LIVING
which of the following is a factor the UN uses to determine a country's standard of living?
- expected education - per capita income - mobile phone ownership rate - internet usage rate
which of the following is NOT a major factor when determining a persons standard of living a. wealth b. comfort c. material goods d. necessities e. age
e. age
TRUE OR FALSE: the poverty wage in america is $5.00 an hour.
false
TRUE OR FALSE: according to the New York Times a typical person in the bottom 10% of the American income distribution is still richer than 68% of the world's inhabitants.
false.... its 5%, not 10%
in reference to the factors that contribute to a persons standard of living, which describes the difference between comfort and material goods?
the level of wealth, comfort, material goods, and necessities available to a certain socioeconomic class or a certain geographic area
TRUE OR FALSE: it is difficult to manage our resources effectively when our perception of what we have is distorted.
true
in reference to the factors that contribute to a person's standard of living, which of the following best describes the term wealth?
value of items a person owns (ex: cars, house, clothes... not just how much they have in their bank account)
which of the following best describes what the term living wage means?
wage high enough to maintain a normal standard of living
what percentage of the world (excluding the US) lives on less that $50/per day?
93%
what is the name of the measuring tool developed by the United Nations to quantify a country's standard of living?
Human Development Index