Important Economics

This semester in Economics we learned about poverty.  I think poverty was one of the most imporatant topics we covered because the poverty rate is increasing, which affects all of us, and we learned ways to stay out of poverty oursleves. 

• The poverty threshold is the lowest income that a family or household of certian composition needs to maintain the basic standard of living. 
• The pverty rate is the percent of people in total population living in pvery (under the poverty line).
• Income gap is the amount of income inequality between parts of the population. 
• Poverty exists at the point where the government says it is.
• What will it take to fix poverty?
• increased access to education resources/ training for low-skilled workers
• increased taxes for the wealthy and use that money to pay for other programs
• spend more on programs to give assistance for low-income groups
• raise minimum wage