Foundations of Economics (8th Edition)
8th Edition
ISBN: 9780134486819
Author: Robin Bade, Michael Parkin
Publisher: PEARSON
expand_more
expand_more
format_list_bulleted
Question
Chapter 20, Problem 4MCQ
To determine
The correct option
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
How is the poverty rate calculated? What is the poverty line?
Question 15
Which of the below statements is INCORRECT with regard to poverty in the U.S.?
The poverty threshold was created my Mollie Orshansky of the Social Security Administration, in the 1960s.
The "poverty threshold," "poverty guidelines" and "poverty line" are identical numbers and are all used for exactly the same purpose.
For the year 2021, a single individual making less than $12,880 in any of the 48 contiguous states, falls below the poverty line.
For the year 2021, a four person family making less that $29,200 a year in any of the 48 contiguous states, falls below the poverty line.
ANSWER IN ESSAY FORM
Briefly discuss what the poverty rate, including what it is, how it is determined, and how this relates to the near poor.
Chapter 20 Solutions
Foundations of Economics (8th Edition)
Ch. 20 - Prob. 1SPPACh. 20 - Prob. 2SPPACh. 20 - Prob. 3SPPACh. 20 - Prob. 4SPPACh. 20 - Prob. 5SPPACh. 20 - Prob. 6SPPACh. 20 - Prob. 7SPPACh. 20 - Prob. 8SPPACh. 20 - Prob. 9SPPACh. 20 - Prob. 1IAPA
Ch. 20 - Prob. 2IAPACh. 20 - Prob. 3IAPACh. 20 - Prob. 4IAPACh. 20 - Prob. 5IAPACh. 20 - Prob. 6IAPACh. 20 - Prob. 7IAPACh. 20 - Prob. 8IAPACh. 20 - Prob. 9IAPACh. 20 - Prob. 10IAPACh. 20 - Prob. 11IAPACh. 20 - Prob. 1MCQCh. 20 - Prob. 2MCQCh. 20 - Prob. 3MCQCh. 20 - Prob. 4MCQCh. 20 - Prob. 5MCQCh. 20 - Prob. 6MCQCh. 20 - Prob. 7MCQ
Knowledge Booster
Similar questions
- If a country had perfect income equality what would the Lorenz curve look like?arrow_forwardWho is included in the top income quintile?arrow_forwardDescribe how a push for economic equality might reduce incentives to work and produce output. Then describe how a push for economic inequality might nut have such effects.arrow_forward
- Table 15.9 shows the share of income going to each quintile of the income distribution for the United Kingdom in 1979 and 1991. Use this data to calculate what the points on a Lorenz curve would be, and sketch the Lorenz curve. How did inequality in the United Kingdom shift over this time period? How can you see the patterns in the quintiles in the Lorenz curves?arrow_forwardWhich among the following is not a measure of income inequality? Select one: a. All the answers are correct b. Income distribution by income category c. Income distribution by quintiles d. None of the answers is correct e. Average household incomearrow_forwardPlease correct answer and don't use hand ratingarrow_forward
- Which of the following factors does NOT contribute to income inequality? A. THE RISE OF TWO-EARNER HOUSEHOLDS B. DIFFERENCES IN HUMAN CAPITAL C. DISCRIMINATION IN THE WORKPLACE D. GOVERNMENT POLICIES ON TAXES AND MINIMUM WAGE E. AN INCREASE IN AFTER-SCHOOL PROGRAMSarrow_forwardHow do government statisticians determine the poverty rate? How could the poverty rate fall while the number of people in poverty rises? Which group in each of the following pairs has the higher poverty rate: (a) children or people age 65 or over? (b) African Americans or foreign-born noncitizens? (c ) Asians or Hispanics?arrow_forwardWhat is the primary measure of income inequality that represents the dispersion of income among a population? A. Price index B. Lorenz curve C. Gini coefficient D. Phillips curvearrow_forward
- Absolute poverty may differ from country to country by a. income brackets b. health metrics c. composition of goods d. social security of every individual e. monetary amountarrow_forwardConsider a population of 10 people with the following incomes 1,1,3,3,4,4,4,6,8,10 with a poverty line of 5. Suppose that the poverty line increases to 6. Calculate the change in normalized poverty gap. 6.6 0 0.06 00.3 0.36arrow_forwardWhy is there so much wealth inequality?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Principles of Economics, 7th Edition (MindTap Cou...EconomicsISBN:9781285165875Author:N. Gregory MankiwPublisher:Cengage Learning
Principles of MicroeconomicsEconomicsISBN:9781305156050Author:N. Gregory MankiwPublisher:Cengage Learning
Principles of Economics (MindTap Course List)EconomicsISBN:9781305585126Author:N. Gregory MankiwPublisher:Cengage Learning
Principles of Economics, 7th Edition (MindTap Cou...
Economics
ISBN:9781285165875
Author:N. Gregory Mankiw
Publisher:Cengage Learning
Principles of Microeconomics
Economics
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:Cengage Learning
Principles of Economics (MindTap Course List)
Economics
ISBN:9781305585126
Author:N. Gregory Mankiw
Publisher:Cengage Learning