econimics of poverty

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Title: econimics of poverty

Essay Details:

Subject: Miscellaneous

Author: Dorothy L

Date: February 27, 2017

Level: University

Grade: A

Length: 3 / 644

Essay text:

To understand poverty and the poverty level, we need to see how the United States determines the poverty level each year. The United States Department of Agriculture in 1955 determined that one third of the income level for a family of three or more was spent on food. Thus, multiply the amount of income spent on food for the year by three and you approximately have the poverty level. If a family's income falls below the poverty level, then they are considered to be living in poverty. Poverty thresholds do vary geographically. Alaska and Hawaii are the only two states to have a different poverty threshold since they have a higher price of living...

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