Question

Suppose that the following data characterize the United States: [10 points] (1) The official poverty line for a family of 4 in 1997 is $16,000. (2) Median income for 4-person families is $40,000 in 1997. (3) The average income of 4-person families below the poverty line in 1997 is $10,000. (4) The CPI increases by 3 percent between 1997 and 1998. (5) Median income for 4-person families grows by 5 percent between 1997 and 1998. Compute the following: A. The poverty gap ratio for a family of 4 in 1997. B. The official poverty line for a family of 4 in 1998. C. The relative poverty line for a family of 4 in 1997 and 1998 if the relative poverty line is set at 40 percent of median family income.

Answer 1

Answer that it is called suppose that the following data characterize the United States and four instead official Proverty line for four family of four in 1997 and 16,000 median income for a four person families and 40,019 97 I hope this helps