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Use the following information to calculate poverty rates for the following two countries, Woolandia and Narnia. Set the poverty line to $365. What is the Poverty Gap Index for each country? What does this measure tell you that is different from the headcount index?

Use the following information to calculate poverty rates for the following two countries, Woolandia and Narnia. Set the poverty line to $365. What is the Poverty Gap Index for each country? What does this measure tell you that is different from the headcount index?

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Use the following information to calculate poverty rates for the following two countries, Woolandia and Narnia. Set the poverty line to $365.

  1. What is the Poverty Gap Index for each country?
  2. What does this measure tell you that is different from the headcount index?
Person A Person B Person C Person D Person E Person F Person G Person H Person I Person J Woolandia $330 $310 $450 $670 $1,080 $200 $145 $275 $370 $340 Narnia $235 $165 $180 $750 $500 $380 $310 $265 $280 $140
Transcribed Image Text:Person A Person B Person C Person D Person E Person F Person G Person H Person I Person J Woolandia $330 $310 $450 $670 $1,080 $200 $145 $275 $370 $340 Narnia $235 $165 $180 $750 $500 $380 $310 $265 $280 $140
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