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How does the cost of living increase affect low income families?

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2012-10-24 15:36:33
2012-10-24 15:36:33

Parents may not able to provide the necessity of their children.

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An increase in national income affects the increase in the standard of living because an increase in income increases the standard of living. When the national income is low, people are poorer.

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an increase in standard of living comes from increase in income. An increase in national income will increase the standard of living of the people of that nation.Income

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Your cost of living will increase, your real income will decrease.

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They affect where they live and their families. Some people have children and they effect them by hunger, and their living ways of life.

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income increases, enabling consumers to buy more goods and services

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A rise in the national income is not necessarily a condition for the rise in people's standard of living. If the wealth is in the hands of a few, then most people's standard of living does not rise. In addition, if the population greatly increases, their is no rise.

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i think the economy of the country would slowly increase such that prices will increase to an unacceptable level,where the standard of living would be poor

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Handicrafts are a unique expression of a country's heritage and culture. It is a great source of domestic income. Many poor families make their living depending on it.

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because some people doesn't pay income tax and so thy need to increase the prices.

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Inflation affects low income earners more than high income earners. This is because low income earners' income tends not to rise as quickly as prices, therefore, their purchasing power decreases. Also, low income earners do not have the skills to demand higher wages. It should be noted that high inflation generally leads to interest rate increases. This affects low income earners' cost of living and compounds the other affects of inflation. So, inflation decreases purchasing power of low income earners relative to high income earners, whose income increase as quick as inflation. Ultimately, income distribution becomes less equal.

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the mayan area of living affect their way of living because........

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It would indirectly affect us by increasing global warming, melting the polar ice caps & flooding the world!

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What is the most recent cost of living increase for Manitoba

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Take the amount of families below the poverty line and multiply it by how many people are in those families as the headcount index uses individuals not entire families to calculate to the index. Once you get the amount of individuals living in poverty you divide it by the total population. Ex: 2000 Families of 2 have an income less than the poverty line. 4000 Families of 2 have an income over the poverty line. 2000 Families of 4 have an income less than poverty line. 4000 Families of 4 have an income over the poverty line. First the number of individuals in poverty: (2000 * 2) + (2000 * 4) = (4000) + (8000) = 12,000 Then find the total population (2000 * 2) + ( 4000 * 2) + (2000 * 4) + (4000 *4) = 36,000 12,000 / 36,000 = 33.33% So the headcount here would show us that 1/3 of the total population is in poverty.

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