Problem
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?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.