Renika has $60,000 dollars in wealth, but the official poverty statistics count her as being in poverty.
Question:
Renika has $60,000 dollars in wealth, but the official poverty statistics count her as being in poverty. Explain why this is. If Renika has quit her job in order to go to graduate school, and $60,000 reflects her cash savings, do you agree that she is in poverty? What if Renika is elderly and the $60,000 reflects the value of her rural home?
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There are a few reasons why Renika might be counted as being in poverty despite having 60000 in wealth The official poverty line is based on income no...View the full answer
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Muhammad Umair
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