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Chapter 15: Q. 31 (page 378)

If a family of three earned $20,000, would they

be able to make ends meet given the official poverty threshold?

Short Answer

Expert verified

Family of three would hardly be able to survive on an earning of$20,000.

Step by step solution

01

Step 1. Definition 

Poverty threshold is the minimum earnings popular identifies what incomes one-of-a-kind families require to reach a minimal socially suitable residing general. families are considered to be below the UK poverty line if their income is 60%underneath the median household earnings after housing fees for that 12months.

02

Step 2. Explanation

Officially, $19350would be the threshold poverty for three people in 2013, If a family of three earned $20,000, they would hardly be able to make ends meet.

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Most popular questions from this chapter

What goods and services would you include in an estimate of the basic necessities for a family of four?

Redistribution of income occurs through the federal income tax and government antipoverty programs. Explain whether or not this level of redistribution is appropriate and whether more redistribution should occur.

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

We have discovered that the welfare system discourages recipients from working because the more income they earn, the less welfare benefits they receive. How does the earned income tax credit attempt to loosen the poverty trap?

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a. Incomes rise for low-income and high-income workers, but rise more for the high-income earners.

b. Incomes fall for low-income and high-income workers, but fall more for high-income earners.
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