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Chapter 15: Problem 45

In country B, the population is 900 million and 100 million people are living below the poverty line. What is the poverty rate?

Short Answer

Expert verified
The poverty rate in country B is approximately \(11.11\%\) .

Step by step solution

01

Identify the given values

We are given the following values: - Total population: 900 million - People living below the poverty line: 100 million Our goal is to find the poverty rate.
02

Calculate the Poverty Rate

To find the poverty rate, we need to divide the number of people living below the poverty line by the total population, and then multiply the result by 100 to get the percentage. Poverty Rate = (People Below Poverty Line / Total Population) × 100
03

Plug in the Given Values

Now, let's plug in the given values into the formula: Poverty Rate = (100 million / 900 million) × 100
04

Simplify and Calculate the Poverty Rate

Simplify the equation and calculate the poverty rate: Poverty Rate = (1 / 9) × 100 Poverty Rate ≈ 11.11%
05

State the Final Answer

The poverty rate in country B is approximately 11.11%.

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Most popular questions from this chapter

What are the main reasons economists give for the increase in inequality of incomes?

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Identify some public policies that can reduce the level of economic inequality.

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