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Economic Case Studies

Part I According to 2007 numbers, the average income for families at the poverty level was around $20,650. Yet a third, or around $6876.45 monthly, of this income is typically used to put food on the table. That leaves a mere $13,773.55 a month for other living expenses, which breaks down to around $459 a day for an entire family. This daily income would then cover the cost of rent, medical bills, educational costs, and etc. This mere amount of annual monthly income for an entire family. This does not prove a sufficient amount of funds for an entire family. According to the Department of Health and Human Services, this would barely cover a family of two individuals, and fall quite short of the normal family number of around four individuals. Yet, there is no real way of discerning the consumption category which takes up the most amounts of funds other than the strict one-third delineation for food. And so, there is no true way to define exactly what the line of poverty is or how much each family should be making in order to be categorized as impoverished. In many cases, the $13,773 a month fails to keep a family of four afloat when income is looked at after taxes. Sometimes, a family is placed within the poverty category with only gross wages evaluated. This fails to take into consideration the net income, which is significantly less, and therefore places the family deeper into poverty than previously thought. The system of cap and trade refers to the program which helps all aspects of the situation in terms of business and environment. It helps environmental groups reach businesses, and businesses make compromises with environmental groups. This then helps create a cooperative atmosphere which fosters environmental responsibility. When a particular pollutant, a cap is placed in order to curb potential harmful amounts from being produced. After this cap is placed, the trade element is incorporated to produce a competi...

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Economic Case Studies. (1969, December 31). In DirectEssays.com. Retrieved 05:44, September 30, 2014, from http://www.megaessays.com/viewpaper/203453.html