Macmillan Learning @ As of March 17, 2021, the federal poverty threshold for a two-person household was $17,420 per year. For a three-person household, the poverty threshold was $21,960 per year. A worker who earns the federal minimum wage of $7.25 and works 2,000 hours per year does not earn enough to avoid poverty based on these thresholds. a. How much must a person earn per hour to support a two-person household? per hour b. How much must a person earn per hour to support a three-person household?
Macmillan Learning @ As of March 17, 2021, the federal poverty threshold for a two-person household was $17,420 per year. For a three-person household, the poverty threshold was $21,960 per year. A worker who earns the federal minimum wage of $7.25 and works 2,000 hours per year does not earn enough to avoid poverty based on these thresholds. a. How much must a person earn per hour to support a two-person household? per hour b. How much must a person earn per hour to support a three-person household?
Chapter10: Labor Markets And Income Distribution
Section: Chapter Questions
Problem 13SQP
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As of March 17, 2021, the federal poverty threshold for a two-person household was $17,420 per year. For a three-person
household, the poverty threshold was $21,960 per year. A worker who earns the federal minimum wage of $7.25 and works
2,000 hours per year does not earn enough to avoid poverty based on these thresholds.
a. How much must a person earn per hour to support a two-person household?
per hour
b. How much must a person earn per hour to support a three-person household?
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