Since the official poverty line was set at $3000 in 1964, prices have risen by about a factor of 7.5. If the poverty line was adjusted only for inflation, what would it be now? How does that compare with the actual poverty line?

Q: Increasing the minimum wage has no impact on employment, regardless of the size of the increase.…

A: Minimum wages refers to the minimum remuneration given to employee by employer for doing work by…

Q: The U.S. poverty rate for African Americans is substantially higher than that for Asians. True or…

A: Poverty refers to the situation of not having enough income of material possession to have a minimum…

Q: Marion collected Social Security payments of $250 per month in 1985. If the price index rose from 90…

A: In economics, the consumer price index or CPI is a significant measure of how the prices of goods…

Q: Define the term Concentrated poverty?

A: Absolute and Relative Poverty: The absolute poverty refers to poverty when the income of a person is…

Q: What types of poverty policies have proved effective?

A: Definition: Poverty is a state or condition wherein an individual comes up short on the finances and…

Q: List the causes of structural poverty?

A: Poverty is about not having enough money to meet individuals' basic needs, including food, shelter,…

Q: As income transfer programs accompanying the War on Poverty increased beginning in the latter half…

A: The income transfer payment is the benefit to the people who lays below a certain level of income.…

Q: Describe how the poverty line is estimated in India?

A: The lowest income deemed suitable in a given country is known as the poverty threshold, poverty…

Q: Although it is hard to separate the causes of poverty from the effects, there is no doubt that…

A: Economy refers to the system in which the production and consumption activities are interrelated. It…

Q: Would a massive, nationwide cessation of all welfare programs force the indolent to work?

A: In an economy, government spending such as transfer payment, investment, and so on has a significant…

Q: what would happen if Governments increase the level of welfare payments.

A: Welfare benefits are government implemented programs that help in increasing the standard of living…

Q: The poverty line is based on cash income, which means it does not take into account government…

A: The poverty line is the minimum level of income required to meet the minimum living conditions in an…

Q: How to redistribute income to reduce poverty, without causing loss of economic incentives.

A: Answer: Redistribution of income to reduce poverty can be achieved through the following ways:…

Q: How does the poverty cycle affect women uniquely? How does a lack of power or resources affect the…

A: Feminization of poorness refers to a trend of skyrocketing difference in living standards between…

Q: Which of the following is not linked to wage inequality for Latinas and African American women? Rise…

A: Wage inequality describes how wages are distributed unequally across a population.Measures of pay…

Q: If a family of three earned $20,000, would they be able to make ends meet given the official poverty…

A: Poverty threshold refers to the minimum level of income deemed to be sufficient in a country. This…

Q: Provide a definition of the “poverty line.” How does the government calculate the measure (give…

A: Poverty is the state of being poor. That is, lacking financial resources and necessities for a…

Q: If the poverty guideline for a family of four is $25,750, what is the most that a household can earn…

A:

Q: If the poverty threshold is approximately $16,000 for a household of three, what is the ratio of…

A: Given information - Poverty threshold = $16,000 Total family income = $12,000 Formula for…

Q: What are the benefits to future researchers if we investigate the relationship between migration and…

A: Inequality: It refers to the process under which the resources are distributed in an unequal way.…

Q: If welfare benefits were reduced, then the country would be better off.

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: As income transfer programs accompanying the War on Poverty increased beginning in the latter half…

A: Income transfer program gives payment benefits to the people who position below certain level of…

Q: If the poverty line was adjusted only for inflation, what would it be now? How does that compare…

A: Using the chained CPI to adjust the poverty threshold for inflation will not change our estimate of…

Q: When was (is) someone more likely to be born into poverty? Today or in the past?

A: Poverty is a social-evil that forces the economy to stay inside the realm of poverty making it…

Q: What are the benefits to POLICY MAKER when we studied the relationship between the migration and the…

A: Economic inequality can take several forms, the two most frequent of which are differences in wealth…

Q: Describe what has happened to the value of the Gini Coefficient since 1980? What is the implication…

A: The Lorenz curve is a representation of the distribution of a metric – consumption, wages,…

Q: Would the following critiques of a poverty line produce a poverty rate that under or overstated…

A: It is absolute in a country where income is growing is a overstated. For non cash benefits, it is…

Q: Many economists believe that a more effective way to supplement the income of the poor is through a…

A: Taxes owed = (1/4 of income) - $10,000 --------------------- When income is $0 Taxes owed = (1/4 *0)…

Q: Which of the following is the most critical factor contributing to poverty reduction across the…

A: The most critical factor playing a role in poverty reduction across the world is commerce, trading,…

Q: What percentage of families in the United States is classified as poor? Which demographic groups…

A: Poverty refers to the situation in which a family lacks the resources to meet basic needs such as…

Q: The concept of a poverty line raises a number of complex questions. Which of the following…

A: Poverty is defined as a lack of sufficient material goods or money to meet one's fundamental…

Q: One theory of a contributor to poverty is that it plays an important role or function in society and…

A: Poverty in the simplest language or sense is known to be as the state where actually one lacks basic…

Q: If a family of three earned $21,000 in 2017, would they be able to make ends meet given the official…

A: Number of person in the family = 3 Total earning by three members = $21000

Q: Which statements are true? 1. Modern sector enlargement assures a better Lorenz Curve for a nation.…

A: 1)Enlargement only in the modern sector does not guarantee a better Lorenz curve. Lorenz curve shows…

Q: Why would income inequality be as damaging as poverty?  Explain each concept.

A: Income inequality refers to the unequal distribution of income among the population. This implies…

Q: The two figures below show trends in poverty rates and inequality for the U.S. (a) What are the…

A: (a) What are the trends in poverty and inequality from 2010 to 2019? As per the figure the trends…

Q: Will the TRAIN law lessen or worsen poverty and income inequality in the country of Philippines? How…

A: When a producer or consumer good is manufactured, cost  takes place and process of business follow…

Q: Why do you think there has been movement toward greater income equality during the 1929 to 1970…

A: The degree to which wealth is distributed unequally within a society is referred to as income…

Q: should employment be based on meritocracy, need, or affirmative action-type policies designed to…

A: Meritocracy proposes that employment should be based on the right ability and choosing the right…

Q: What groups in the U.S. population are most likely tolive in poverty?

A: There many groups which are most likely to live in poverty according to race or ethnicity, age,…

Q: What factors have contributed to increased income inequality since 1970?

A: Income inequality tells us how unevenly income is distributed in a country. This means the different…

Unemployment and Cost of Unemployment

Unemployment is the state of being unemployed, even when an individual is actively seeking work opportunities. The unemployment rate refers to the percentage of the workforce that is currently unemployed.