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Famous poverty line

Famous poverty line - Famous poverty line $1 a day Example...

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Famous’poverty’line:’$1’a’day Example’of’i ncome’approach ’ Introduced’by’the’world’bank’in’1990 This’is’perhaps’the’most’widely’used’poverty’line The’poverty’line’was’defined’as’the’median’poverty’line’in’the’10’lowest’ income’countries’out’of’33’countries’that’were’first’ considered’for’this’ purpose:’ This’worked’out’to’be’$1.08’a’day Later’it’was’the’average’poverty’line’of’the’world±s’poorest’15’ countries’ Was’revised’to’be’$1.25’a’day It’corresponds’to’what’it’takes’to’just’stay’afloat’throughtout’the’ world’ ! ’means’extreme’poverty ’ How’the’$1’a’day’po verty’line’is’constructed ’ GDP/capita’ National’poverty’lines’for’as’many’counties’as’possible’(in’their’own’local’ currencies)’ ’ Exchange’rates:’convert’into’1’currency’($)’with’PPP’ ! ’care’about’standard’ of’living ’ Choose’the’international’poverty’line Median’ poverty’line’of’the’world±s’poorest’10’countries’in’about’$1’a’ day’ ’ Take’median’or’mean’of’the’poorest’ ! ’something’like’$1.25’per’day Convert’this’into’a’local’poverty’line Convert’back’to’local’currency’(PPP,’ER) Rank’surveyed’households’by’income’or’ consumption’ Count’number’of’people’living’below’the’line Lots’of’debate’about’the’$1’a’day’line: Surjit’Bhalla’(2002) ’
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