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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

What is the poverty line?

To determine

The meaning of Poverty line.

Explanation

Poverty line states the minimum amount of money a person or a family require to live on or to buy necessities. It is like an imaginary line drawn by the governmental regulations showing an amount. Anybody whose income is lower than this amount is considered poor.

Some of the useful statistics about Poverty line in US:

  1. One in nine American is below poverty line.
  2. As per U.S. Census Bureau, approx. nine million families were below poverty line in 2014.
  3. In 2015, US poverty line was drawn at $11,790 for an individual whereas $25,240 for a family of four people.
Country Share of Population below $1.25/Day Share of population below $2.00/Day
Brazin (in 2009) 6...

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