What income was considered the poverty line and below the poverty line for each year: 1994,...

What income was considered the poverty line and below the poverty line for each year: 1994, 1995, 1996, 2001, 2002, and 2008?

Expert Solution

The poverty threshold is the minimum level of income for subsistence living in a country. In the US the Census determine the poverty threshold for an individual by different age group and for families under different categories. Any individual or family has an annual income below their respective threshold is called officially poor by the government.

The table below gives the data for the US poverty threshold for the said calendar year and for individuals and families as published by the US Census.

The Calendar Year	Unrelated individuals			2 people			Families of 3 people or more
	All ages	Under age 65	Aged 65 or older	All ages	House- holder under age 65	House- holder aged 65 or older	3 people	4 people	5 people	6 people	7 people or more	7 people	8 people	9 people or more
1994	7547	7710	7108	9661	9976	8967	11821	15141	17900	20235	***	22923	25427	30300
1995	7763	7929	7309	9933	10259	9219	12158	15569	18408	20804	***	23552	26237	31280
1996	7995	8163	7525	10233	10564	9491	12516	16036	18952	21389	***	24268	27091	31971
2001	9039	9214	8494	11569	11920	10715	14128	18104	21405	24195	***	27517	30627	36286
2002	9183	9359	8628	11756	12110	10885	14348	18392	21744	24576	***	28001	30907	37062
2008	10991	11201	10326	14051	14489	13030	17163	22025	26049	29456	***	33529	37220	44346

Rahul Sunny answered 1 year ago

What is the percentage of people living with an income below the federal poverty level? What...

What is the percentage of people living with an income below the federal poverty level? What is the number of cases of Emergency Department visits for Asthma in the 5-17 year? Select one neighborhood from each of the other 4 Boroughs and compare with your neighborhood (create a table )

1. In country A, the population is 330 million and 100 million people are living below the poverty line. What is the poverty rate?

1. In country A, the population is 330 million and 100 million people are living below the poverty line. What is the poverty rate? 2. In country B, the population is 127 million and 19 million people are living below the poverty line. What is the poverty rate? 3. Imagine federal legislation is passed granting every U.S. resident a $20,000 per year universal basic income. No matter the income an individual earns from working, this $20,000 per year level of...

How adequate is the "poverty line" in India as a measure of economic poverty and what...

How adequate is the "poverty line" in India as a measure of economic poverty and what conclusions can be drawn from it about India's progress in eradicating poverty? In this context, comparatively, evaluate targeting versus universalism with self-selection as a principle of effective social policy. Discuss the pros and cons of the conditional cash transfer and cash incentives system in this regard. ANSWER EACH PART IN DETAILS AND IN ABOUT 2000 WORDS.

Explain what information is contained in the poverty rate statistic and what determines the poverty line?...

Explain what information is contained in the poverty rate statistic and what determines the poverty line? Are there problems in using an absolute scale to measure poverty? If so, explain them.

Why is poverty considered a relative concept?

Terry Company’s 1994 income statement and comparative balance sheets at December 31, 1994 and 1993, are...

Terry Company’s 1994 income statement and comparative balance sheets at December 31, 1994 and 1993, are as follows (SHOW YOUR WORK WITH THE ACCOUNTING TITLES): Terry Company Income Statement For the Year Ended December 31, 1994 Sales $876,000 Dividend Income 5,000 $881,000 Cost of Goods Sold $486,000 Wages Expense 92,000 Advertising Expense 10,000 Depreciation Expense 22,000 Income Tax Expense 27,000 Loss on Sale of Investments 2,000 639,000 $242,000 Terry Company Balance Sheet Assets ...

For the year 2009, the table below gives the percent of people living below the poverty...

For the year 2009, the table below gives the percent of people living below the poverty line in the 26 states east of the Mississippi River. Answer the following questions based on this data. State Percent Alabama 7.5 Connecticut 7.9 Delaware 14.9 Florida 13.2 Georgia 12.1 Illinois 10.0 Indiana 9.9 Kentucky 11.9 Maine 13.3 Maryland 10.9 Massachusetts 7.9 Michigan 15.8 Mississippi 9.1 State Percent New Hampshire 14.6 New Jersey 8.3 New York 9.1 North Carolina 12.1 Ohio 13.6 Pennsylvania 10.5...

For the year 2009, the table below gives the percent of people living below the poverty...

For the year 2009, the table below gives the percent of people living below the poverty line in the 26 states east of the Mississippi River. Answer the following questions based on this data. State Percent Alabama 7.5 Connecticut 7.9 Delaware 14.9 Florida 13.2 Georgia 12.1 Illinois 10.0 Indiana 9.9 Kentucky 11.9 Maine 13.3 Maryland 10.9 Massachusetts 7.9 Michigan 15.8 Mississippi 9.1 State Percent New Hampshire 14.6 New Jersey 8.3 New York 9.1 North Carolina 12.1 Ohio 13.6 Pennsylvania 10.5...

For the year 2009, the table below gives the percent of people living below the poverty...

For the year 2009, the table below gives the percent of people living below the poverty line in the 26 states east of the Mississippi River. Answer the following questions based on this data. State Percent Alabama 7.5 Connecticut 7.9 Delaware 14.9 Florida 13.2 Georgia 12.1 Illinois 10.0 Indiana 9.9 Kentucky 11.9 Maine 13.3 Maryland 10.9 Massachusetts 7.9 Michigan 15.8 Mississippi 9.1 State Percent New Hampshire 14.6 New Jersey 8.3 New York 9.1 North Carolina 12.1 Ohio 13.6 Pennsylvania 10.5...

Predicting if income exceeds $50,000 per year based on 1994 US Census Data with Simple Classification...

Predicting if income exceeds $50,000 per year based on 1994 US Census Data with Simple Classification Techniques Linear Discriminant Analysis: Perform cross-validated LDA (LOOCV) with variable income.cat as response, and all the numeric variables as predictors. Compute and display the resulting (cross-validated) contingency table as well as the corresponding classification accuracy and classification error. Comment on the result. Use Rstudio

Question

What income was considered the poverty line and below the poverty line for each year: 1994,...

Solutions

Expert Solution

Related Solutions

What is the percentage of people living with an income below the federal poverty level? What...

1. In country A, the population is 330 million and 100 million people are living below the poverty line. What is the poverty rate?

How adequate is the "poverty line" in India as a measure of economic poverty and what...

Explain what information is contained in the poverty rate statistic and what determines the poverty line?...

Why is poverty considered a relative concept?

Terry Company’s 1994 income statement and comparative balance sheets at December 31, 1994 and 1993, are...

For the year 2009, the table below gives the percent of people living below the poverty...

For the year 2009, the table below gives the percent of people living below the poverty...

For the year 2009, the table below gives the percent of people living below the poverty...

Predicting if income exceeds $50,000 per year based on 1994 US Census Data with Simple Classification...