Poverty and Income Equality

Instructions

Every student will complete a paper to the following specifications based upon Week 8/Chapter 14 which is about:Poverty & Income Inequality.The research paper should be 5-7 pages long (at least) excluding the bibliography page, and should include and discuss the following matters:        Summarize the selected chapter 14 (1.5 2 pages) (textbook) - part 1;        Select one problem described and discussed in this chapter and analyze it using the additional not related to the textbook materials (2-3  pages) (independent sources) - Part 2;         Discuss how this problem affects you of people whom you know. If you think that this problem has a solution discuss it (2.5- 3 pages) - The paper should be typed. Use the MLA format. To learn abot the MLA format check this site:  http://mlaformat.org/  MUST USE 2 SOURCES OUTSIDE OF ThE TEXTBOOK!Link to Chapter 14: https://cnx.org/contents/[email protected]:pgqxuyN6@6/Introduction-to-Poverty-and-Ec

Answer

Poverty and Income Inequality Chapter SummaryIn Principles of Microeconomics, Chapter 14 introduces readers to various issues relating to poverty and income inequality and much of the focus is on the U.S economy. The chapter is divided into six major sections with each section addressing an important aspect touching on the main subject. In the first section, the term poverty line is defined and how this is determined is explained in details. This section highlights that forces within the labor market play an important role in contributing to the existing income inequality. An important statistic provided by the authors recognizes that 9 million U.S families are said to be below the poverty line as of the year 2014 (Openstax). The process of establishing the poverty line often relies on an...
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