Since the official poverty line was set at 3000 in 1964, Econometrics

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Since the official poverty line was set at 3000 in 1964

1. Define the poverty rate. Does it rise or fall during recessions?

2. Since the official poverty line was set at $3,000 in 1964, prices have risen by about a factor of 7. If the poverty line was adjusted only for inflation, what would it be now? How does that compare with the actual poverty line?

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Econometrics: Since the official poverty line was set at 3000 in 1964

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Econometrics: Since the official poverty line was set at 3000 in 1964

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