Economics Poverty Questions
The poverty headcount ratio gap severity elasticity index ratio threshold is a complex measure used in economics to assess the severity of poverty. It combines various indicators such as the poverty headcount ratio (the proportion of the population living below the poverty line), the gap (the average shortfall of the poor from the poverty line), the severity (the squared gap), the elasticity index (the responsiveness of poverty to changes in average income), and the threshold (the poverty line itself). This index helps policymakers and researchers understand the depth and intensity of poverty in a given population.