Question

A family is considered housing cost-burdened when more than 30% of their income goes to a mortgage or rent. This might be used as a measure of

a) relative poverty
b) extreme poverty
c) mobility
d) absolute poverty

Answer 1

Housing cost-burdened is a measure of relative poverty where a family or individual spends more than 30% of their income on mortgage or rent. Therefore, the correct option is a) relative poverty.

Step-by-step explanation:

When more than 30% of a family's income goes to a mortgage or rent, they are considered housing cost-burdened. This is a measure of relative poverty. Relative poverty refers to the economic condition where a family or individual has a lower income than the average median income, making it difficult to meet the average standard of living in society.