Suppose that a family's income is exactly the same as the poverty threshold.This family's income deficit would beand their ratio of income to poverty would beO 0; 10 ; 01;0O 1;1Consider a family of four in 2008, whose poverty threshold is $22,024. If this family's total income was $12394, whatwould their income deficit be?income deficit: $

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Consider a family of four in 2008, whose poverty threshold is $22,024. If this family's total income was $12394, what would their income deficit be?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Suppose that a family's income is exactly the same as the poverty threshold.
This family's income deficit would be
and their ratio of income to poverty would be
O 0; 1
0 ; 0
1;0
O 1;1
Consider a family of four in 2008, whose poverty threshold is $22,024. If this family's total income was $12394, what
would their income deficit be?
income deficit: $

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