Part C: Now consider the relative poverty line which is 50 percent below median adjusted income. What percentage of households are in poverty in this instance? [Hint: For these computations, you can copy the data into a spreadsheet application and use the formula command to determine the above calculations] Part D:  In lieu of income levels, briefly describe an alternative method of determining economic well-being (namely, the Human Development Index).

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
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Chapter1: Making Economics Decisions
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Part C: Now consider the relative poverty line which is 50 percent below median adjusted income. What percentage of households are in poverty in this instance? [Hint: For these computations, you can copy the data into a spreadsheet application and use the formula command to determine the above calculations]


Part D:  In lieu of income levels, briefly describe an alternative method of determining economic well-being (namely, the Human Development Index).

Consider the following set of unadjusted annual household income values (total
income before taxes) and their respective household sizes:
Income
Household Size
24480
1
32528
2.
34021
1.
36816
43785
4
46628
1
53226
55854
58634
3
64263
3.
70416
72020
74730
78109
78710
4.
81711
3.
82511
83122
94725
98188
3230NN
Transcribed Image Text:Consider the following set of unadjusted annual household income values (total income before taxes) and their respective household sizes: Income Household Size 24480 1 32528 2. 34021 1. 36816 43785 4 46628 1 53226 55854 58634 3 64263 3. 70416 72020 74730 78109 78710 4. 81711 3. 82511 83122 94725 98188 3230NN
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