Definition of Poverty Line
What is the "poverty line"? What is the definition of the term "poverty line"?
The "poverty line" is the designated minimum amount of income needed to maintain a certain standard of living, or a "tolerable" standard of living as some people would say.
The current "poverty line" for a single adult person under the age of 65 in the United States is $11,161; for a family of four (with two kids), $21,756 in total income per year is needed to stay above the poverty line.
The "poverty line" from country to country can be dramatically different based on the cost of certain resources (housing, food, etc) and overall criteria for establishing a "poverty line".
Unsurprisingly, as an economy contracts, more people find themselves beneath the "poverty line".
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