Question

In: Economics

Explain U.S. poverty and how it compares to the rest of the world

Explain U.S. poverty and how it compares to the rest of the world

Solutions

Expert Solution

Poverty threshold is determine by the government in US and is basis the number of person in the household above 18 and the income of the household and it varies from state to state within US as per the latest figure basis consumption poverty levels in US are at around 3% and as per the income standard it comes out to be much higher at around 14% which is considerable higher compared to other developed countries for example most of the developed european nations havve poverty level below 10% which is significantly lower compared to the state in US. If we compare the lowest 5 percentile population in US there is considerable gap in Average income when compared to other developed nations whereas the to 50 percentile have the higher resources and wealth compared to other developed nations. Many factors can be attributed to this income disparity in the US one can be lower minimum wages when compared to other countries in the same league also most of the european nations provide higher security net when compared to US. In other parameters as well to explain security cover US is doing worse than its peers for ex hospitals beds per 1000 people in US is at abysmal 2.9 compared to Japan at 13.2 similarily Life expectancy in US is at 78.8 compared to around 84 in Japan

Rahul Sunny answered 1 year ago
Next > < Previous

Related Solutions

Economic expansion throughout the rest of the world raises the world interest rate. Explain in words...
Economic expansion throughout the rest of the world raises the world interest rate. Explain in words the impact of an increase in the world interest rate on the exchange rate and level of output in a small open economy with a floating-exchange-rate system. Use the Mundell–Fleming model to determine the impact. However, do not provide diagrams with the answer. (125 words maximum)
How did World War II change the United States’ relationship with the rest of the world?...
How did World War II change the United States’ relationship with the rest of the world? What were the major events which prompted American involvement in the war, and what effect did the war have domestically? How did American foreign policy change after the end of World War II? (minimum 200 words please, thank you!)
Comment on the big-picture cause or justification of poverty in the U.S. and how the current...
Comment on the big-picture cause or justification of poverty in the U.S. and how the current economic system affects it. Are you taking an "individual responsibility" or "collective responsibility" approach?
The Official Poverty Measure (OPM) compares a measure of a family’s financial resources to a dollar...
The Official Poverty Measure (OPM) compares a measure of a family’s financial resources to a dollar amount representing the family’s needs. Families with resources less than needs are considered to be in poverty. The measure of needs is the cost of a thrifty food basket multiplied by 3. (1) What was the rationale for this calculation when it was originally created-- in other words, why was THE COST OF A THRIFTY FOOD BASKET multiplied by 3)? (2) Why might this...
How Credible Are the World Bank's Global Poverty Estimates/what are some critiques and how can they...
How Credible Are the World Bank's Global Poverty Estimates/what are some critiques and how can they be improved
1.) How should we define poverty? Please explain your conception of "poverty" and tell us how...
1.) How should we define poverty? Please explain your conception of "poverty" and tell us how you would recognize poverty when you observe it. Please be specific here - simply saying "people who don't have enough" or "people who don't have adequate shelter" doesn't define the issue. Who decides what is "enough" or what "adequate shelter" is? 2.) What is meant by "Systemic Poverty" and "Generational Poverty"? Are the two terms interchangeable? 3.) Is there a 'cure' for poverty? Do...
Does the US have better healthcare than the rest of the world? Support and explain your...
Does the US have better healthcare than the rest of the world? Support and explain your position. Please include references in proper APA format.
1 If the U.S. government takes the value of in-kind transfers into consideration, the U.S. poverty...
1 If the U.S. government takes the value of in-kind transfers into consideration, the U.S. poverty rate decreases.True/False 2 If women are not allowed to own property or inherit wealth but men are, this is an example of comparative advantage.True/False 3 In his book The Other Path, de Soto suggests that countries will grow more quickly if governments limit entrepreneurship.True/False 4 In his book The Other Path, de Soto suggests that countries will grow more quickly if bureaucratic barriers to...
Do you agree with the U.N. Special Rapporteur on Extreme Poverty that U.S. policies towards poverty...
Do you agree with the U.N. Special Rapporteur on Extreme Poverty that U.S. policies towards poverty ignore human rights and as a result, our democracy is steadily being undermined? How do you explain the fact that there are 40 million people living under the federal poverty line in the richest country on earth? What kind of actions do you expect the government to take in order to address poverty and income inequality or do you think that these issues are...
Do you agree with the U.N. Special Rapporteur on Extreme Poverty that U.S. policies towards poverty...
Do you agree with the U.N. Special Rapporteur on Extreme Poverty that U.S. policies towards poverty ignore human rights and as a result, our democracy is steadily being undermined? How do you explain the fact that there are 40 million people living under the federal poverty line in the richest country on earth? What kind of actions do you expect the government to take in order to address poverty and income inequality or do you think that these issues are...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT