poverty the situation of being below a certain level of income one needs for a basic standard of living

poverty line the specific amount of income one requires for a basic standard of living

poverty rate percentage of the population living below the poverty line

poverty trap antipoverty programs set up so that government benefits decline substantially as people earn

more income—as a result, working provides little financial gain

progressive tax system a tax system in which the rich pay a higher percentage of their income in taxes, rather

than a higher absolute amount

quintile dividing a group into fifths, a method economists often use to look at distribution of income

redistribution taking income from those with higher incomes and providing income to those with lower

incomes

safety net the group of government programs that provide assistance to people at or near the poverty line
{"total_pages": 597, "file_hash": "830b81f41611ac67a490444dbb5d6aed292224606965b06965b914443c93331a", "batch_upload": true, "producer": "Prince 14.2 (www.princexml.com)", "title": "Principles of Microeconomics 3e", "upload_timestamp": "2026-02-07T15:24:38.309401", "file_size_mb": 26.99, "creator": "PDFMiner", "creationdate": "2022-12-07T14:15:44-06:00", "source": "downloads\\business\\economics\\Microeconomics3e.pdf", "moddate": "2022-12-07T14:23:05-06:00", "file_type": ".pdf", "uploaded_via": "batch_uploader", "file_name": "Microeconomics3e.pdf", "source_file": "downloads\\business\\economics\\Microeconomics3e.pdf"}