Lesson 7
Low Income Economies:
( $ 760 or less )
Middle Income Economies:
( $ 761- $ 9360 )
High Income Economies:
( $ 9361 or more )
* Being poor is relative
Economic growth improves the lives of the poor by making the portion of the "pie"
bigger.
Bigger slices means higher standards of living. The only difference in the different
poors is the size of the pie.
If the economy grows and the poor people keep the same percentage and it doesn't change
then the amount that the poor has grows.
Since the 1930's our economy has grown 3% each year.
In the US the average income per person is $34,142 .
The poverty level is $19,000.
The less education you have the less income you make. If you want to get out of poverty,
get educated.