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In the 1960s, food accounted for 1/3 of the average person's budget. The Official Poverty Measure (OPM) was developed in the 1960s using the cost
In the 1960s, food accounted for 1/3 of the average person's budget. The Official Poverty Measure (OPM) was developed in the 1960s using the cost of a minimally nutritious meal plan, multiplied by three, to get a general measure of poverty. While this measure is still used today, which of the following answers describe a limit or flaw to this measure of poverty? Select ALL correct answers. a Food costs more today than it did in the 1960s which means the measure underestimates food costs. b Food costs less today than it did in the 1960s which means the measure overestimates food costs. c The measure ignores other cost of living factors such as clothing and transportation. d The measure is a national average and cost of living expenses can vary based on geography
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