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Use the table below to answer this question Income(s) range Population 0-10,000 10,000 10,000-30,000 5000 30,001-50,000 2000 50,001-69,999 500 70,000-90,000 300 90,000-100,000 150 Over 100,000 50 If the poverty line is $70,000, what is the poverty rate of this town? 1.02% 97.22% 67.67% 83.33%

Use the table below to answer this question Income(s) range Population 0-10,000 10,000 10,000-30,000 5000 30,001-50,000 2000 50,001-69,999 500 70,000-90,000 300 90,000-100,000 150 Over 100,000 50 If the poverty line is $70,000, what is the poverty rate of this town? 1.02% 97.22% 67.67% 83.33%

Principles of Economics 2e
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter15: Poverty And Economic Inequality
Section: Chapter Questions
Problem 14RQ: How is the poverty rate calculated?
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Use the table below to answer this question Income(s) range Population 0-10,000 10,000 10,000-30,000 5000 30,001-50,000 2000 50,001-69,999 500 70,000-90,000 300 90,000-100,000 150 Over 100,000 50 If the poverty line is $70,000, what is the poverty rate of this town? 1.02% 97.22% 67.67% 83.33%
Transcribed Image Text:Use the table below to answer this question Income(s) range Population 0-10,000 10,000 10,000-30,000 5000 30,001-50,000 2000 50,001-69,999 500 70,000-90,000 300 90,000-100,000 150 Over 100,000 50 If the poverty line is $70,000, what is the poverty rate of this town? 1.02% 97.22% 67.67% 83.33%
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