Discuss this in the following order:

i) What is "Poverty Trap" Or "Milton Friedman's fool in the shower"

ii)How does this concept work or what does it mean? Why and how was it applied in the 2008 recession or in the US?

iii) Include an example

iv) It has been claimed by some that these economic concepts favors one group over the other (rich vs poor;minorities, Is this true?

v) What actions can the government take to eliminate the issue of poverty trap OR the federal reserve take to address "fool in the shower" concept?

e)Explain this in basic(simple) words so a high school student can understand.