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The poverty threshold in 2017 for a family of four people with two children under the age of 18 years of age was $24,858. If
- The poverty threshold in 2017 for a family of four people with two children under the age of 18 years of age was $24,858. If a family of this size has an income of $23,500, then calculate the income surplus or deficit and the income to poverty ratio. What do these measures allow you to conclude about the poverty status of the family?
- The Lorenz curve representing the income distribution in a particular country is shown in Figure 1.1 (below).
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