Week 5 Discussion - ECO2071.docx - Running head US POVERTY...

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Running head: US POVERTY RATE 1 US Poverty Rate Franchon Hurd South University ECO2071 – Principles of Microeconomics August 4, 2018 Dr. Joseph Brandt US Poverty Rate Introduction Poverty is the state of being extremely poor, being inferior in quality or insufficient in amount of resources. There are thousands of families are living in horrible poverty. According to Mankiw (2017), the percentage of the population whose family income falls below an absolute level called the poverty line. Although many of us barely live above what the government considers the poverty level, for thousands it is a normal way of life and many live from paycheck to paycheck, and that is how the average American family lives. The most common measure of poverty in the U.S. is based on the poverty threshold set by the government, which is broken
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US POVERTY RATE 2 down by family size and the number of children, whether the head of household is a man or a woman along with size of family and whether or not they reside on a farm or not. According to povertyusa.org, the standard is for a family of four is about $24,000.00, which includes people working at minimum wage, even holding down several jobs, and seniors living on fixed incomes. Census Summaries Review In the assignment for this week, have been asked offer our understanding of three of the summaries provided by the United States Census Bureau and the possible causes. The official poverty rate in 2010 was 15.1 percent—up from 14.3 percent in 2009. This was the
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  • Fall '14
  • EugeneGotwalt
  • Poverty, Household income in the United States, Poverty in the United States

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