Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Let's assume a two wage-earner household with two children. One person has a high school diploma and the other has completed their GED. Currently, both

Let's assume a two wage-earner household with two children. One person has a high school diploma and the other has completed their GED. Currently, both adults are employed making minimum wage (i.e., $7.25/hr). Each person works 40 hours per week, 52 weeks during the year.

  • Calculate their gross income.
  • Assume 10% is taken out of gross earnings to cover social security and federal income tax.Calculate this value.
  • Given this couples gross income, are they above or below the poverty guidelines for the 48 contiguous states? By how much?https://aspe.hhs.gov/topics/poverty-economic-mobility/poverty-guidelines/prior-hhs-poverty-guidelines-federal-register-references/2020-poverty-guidelines

The poverty guidelines are published annually in the Federal Register.The values are used by various federal agencies to determine eligibility for specific entitlement programs such as SNAP and the School Lunch Program.

Let's look at these two programs and determine if this family is eligible for assistance through SNAP,https://www.fns.usda.gov/snap/recipient/eligibility,for their children's lunches at schoolyou can look at https://www.fns.usda.gov/school-meals/nutrition-standards-school-mealsand for more information, please look athttps://www.fns.usda.gov/cnp/fr-032019

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Introduction to Global Business Understanding the International Environment & Global Business Functi

Authors: Julian Gaspar, James Kolari, Richard Hise, Leonard Bierman, L. Smith, Antonio Arreola Risa

2nd edition

1305501187, 9780547152127, 547152124, 9781111824259, 1111824258, 978-1305501188

More Books

Students also viewed these Economics questions

Question

What are "collaborative machines?"

Answered: 1 week ago