Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The poverty rate is always a ratio of required income and the cost of purchasing the goods necessary to survive. What this means is the
The poverty rate is always a ratio of required income and the cost of purchasing the goods necessary to survive. What this means is the exact dollar amount of the poverty rate will differ greatly country to country. Review the two selections below, and choose the one which defines how the poverty rate is set for low income countries. Select the correct answer below: Example. The World Bank sets two poverty lines for low-income countries around the world. One poverty line is set at an income of $1.25/day per person. The other is at $2/day. By comparison, the U.S. 2015 poverty line of $20,090 annually for a family of three works out to $18.35 per person per day. The total amount of GDP in a country is divided by the total number of people in the country. The number which results from this is the poverty rate for a given country
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started