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How is the poverty rate calculated?
Poverty rate is calculated as the percentage of people below poverty line in complete population. It is calculated by dividing total number of people living below poverty line by population.
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Chapter 14
Poverty and Economic Inequality
Markets and Welfare
The Economics of Labor Markets
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everyone stay were answering Problem number 14 from Chapter 14 of the textbook, which asks us to figure out how the poverty rate is now. The poverty rate is going to be based off of the property, So let's read about what the poverty line ISS Comparisons of high and low income raised two different issues. Economic inequality and poverty. Poverty is measured by the number of people who fall below a certain level, all the property that defines the income one needs for basic standard. So the poverty line is the amount of income that one needs for a basic standard of living. It's gonna bury by different areas of the country because certain areas are more expensive but other areas to live in. So the poverty rate is going to be the percentage. Just remember, always some number divided by some numbers of people. That's the consent of the people you live in. Households with income right is not sufficient enough essentially for free sex. Oh, wait. Love the official poverty and again as much important that probably wine will differ different, uh, different areas of the country spending on and how much you need. Two centuries have that basic standard little official poverty. So there you have it. If you guys enjoy the city explanation of how to target the poverty rate is like next year. I hope you all have a nice day and thank you for washing today.
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