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Chapter 15: Q. 31 (page 378)

If a family of three earned $20,000, would they

be able to make ends meet given the official poverty threshold?

Short Answer

Expert verified

Family of three would hardly be able to survive on an earning of$20,000.

Step by step solution

01

Step 1. Definition 

Poverty threshold is the minimum earnings popular identifies what incomes one-of-a-kind families require to reach a minimal socially suitable residing general. families are considered to be below the UK poverty line if their income is 60%underneath the median household earnings after housing fees for that 12months.

02

Step 2. Explanation

Officially, $19350would be the threshold poverty for three people in 2013, If a family of three earned $20,000, they would hardly be able to make ends meet.

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Most popular questions from this chapter

A group of 10 people have the following annual incomes: \(55,000, \)30,000, \(15,000, \)20,000, \(35,000, \)80,000, \(40,000, \)45,000, \(30,000, \)50,000. Calculate the share of total income each quintile of this income distribution received. Do the top and bottom quintiles in this distribution have a greater or larger share of total income than the top and bottom quintiles of the U.S. income distribution for 2005?

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