Log out Go to App
Go to App

Learning Materials

Features

Discover

Chapter 15: Q. 15 (page 377)

What is the poverty line?

Short Answer

Expert verified

The poverty line marks the level of income required for attending the subsistence level of living. People earning income less than that or lying below the poverty line, are considered to be in a state of poverty.

Step by step solution

01

Step 1. Poverty

Poverty is defined by the situation where there is a portion of the population who can't even meet the subsistence level of standard of living with their income earned.

02

Step 2. Poverty line

The poverty line signifies the level of income that is considered as required for attending the subsistence level of living. The portion of people earning income less than that, that is lying below the poverty line, are considered to be in the state of poverty. For example, in the US, the poverty line as of 2020is $12,760a year or $35/day for a single-person household. The level differs as the number of households changes.

Unlock Step-by-Step Solutions & Ace Your Exams!

  • Full Textbook Solutions

    Get detailed explanations and key concepts

  • Unlimited Al creation

    Al flashcards, explanations, exams and more...

  • Ads-free access

    To over 500 millions flashcards

  • Money-back guarantee

    We refund you if you fail your exam.

Start your free trial

Over 30 million students worldwide already upgrade their learning with Vaia!

One App. One Place for Learning.

All the tools & learning materials you need for study success - in one app.

Get started for free

Most popular questions from this chapter

How can the effect of the poverty trap be reduced?

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

Why is there reluctance on the part of some in the United States to redistribute income so that greater equality can be achieved?

Who is included in the top income quintile?

To reduce income inequality, should the marginal tax rates on the top 1% be increased?
See all solutions

What do you think about this solution?

We value your feedback to improve our textbook solutions.

Study anywhere. Anytime. Across all devices.

Sign-up for free