The poverty line is Multiple Choice the percentage of people in households whose incomes are under the poverty line. the total amount of money that would have to be transferred to households below the poverty line for them to get out of poverty. the amount of money people with low incomes earn from work. the level of income sufficient to provide a family with a minimally adequate standard of living.
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The Family income is normally distributed with an average of $25,000 and standard deviation of $10,000. If the poverty level is $10,000, what percentage of the population lives in poverty? Select one: a. A little under 7% of the population lives in poverty. b. A little under 5% of the population lives in poverty. c. A little under 10% of the population lives in poverty. d. None of the mentioned answers is correct
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Poverty Threshold Poverty thresholds are determined by the U.S. Census Bureau. A poverty threshold represents the minimum annual household income for a family not to be considered poor. In $2003,$ the poverty threshold for a family of four with two children under the age of 18 years was $\$ 18,660$. In 2013 , the poverty threshold for a family of four with two children under the age of 18 years was $\$ 23,624$. Assuming that poverty thresholds increase in a straight-line fashion, use the midpoint formula to estimate the poverty threshold for a family of four with two children under the age of 18 in $2008 .$ How does your result compare to the actual poverty threshold in 2008 of $\$ 21,834 ?$
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The Distance and Midpoint Formulas
Consider a society with a total population of 200. 100 people earn $3 a day and 100 earn $1 a day. The poverty line is set at $2 a day. The poverty gap ratio (PG) is expressed as: where z is the poverty line, yi is the income of individual i, q is the number of poor people (whose incomes are below the poverty line) and n is the size of the population. What is the value of the poverty gap ratio of this society? Select one: 0.750 0.500 0.250 0.125
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