In a simple 300 million-person world of all four-person families, if the poverty line is $12,500 and

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In a simple 300 million-person world of all four-person families, if the poverty line is $12,500 and half of the 10 million families (with 40 million poor people) earn $10,000 and the other half earn $7,500, then the poverty rate is

a. 3.33% (10 million/300 million).

b. 13.33% (40 million/300 million).

c. 16.66% (50 million/300 million).

d. 96.33% ([300 million – 10 million]/ 300 million).

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Issues in Economics Today

ISBN: 978-1259746390

8th edition

Authors: Robert C. Guell

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Question Posted: Apr 24, 2018 02:38 AM

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In a simple 300 million-person world of all four-person families, if the poverty line is $12,500 and

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b 1333 40 million300 million Explanation The poverty rate is the percentage of ...View the full answer

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