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Economics

Problem

Table 21P-1 shows a data set that contains the income of 20 households, each with a household size of four people.

a. What percent of these households are below the national poverty line of $18,250 for a household of four people?

b. What is the average income of the bottom 20 percent of the households?

c. Which poverty measurement (the national one, or the bottom quintile) gives a higher poverty rate?

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M92761752

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