SOCI 1000 Lecture Notes - Lecture 7: Upper Middle Class, Elite, Social Mobility
12 Apr 2016
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Document Summary
Income: money received for work or investments. Quinile: divides the populaion into ive income group. Transiional poverty: temporary state when one loses a job for a short ime. Marginal poverty: when one lacks stable employment. Residual poverty: represents poverty that is chronic and muli-generaional. Three key factors that inluence the impact of poverty on families: depth: how far a family income is below the poverty line, breadth: social aspects associated with poverty, duraion: how long the poverty endures. Low-income cut-ofs (licos): based on the percentage of income devoted to daily necessiies such as food, shelter, and clothing. Low-income measures (lims): set of igures represening 50 percent of the median adjusted family income, which is based on a consideraion of the varying needs of families of diferent sizes. Market-basket measure (mbm): based on an imaginary basket of market-priced goods and services, and ideniies the income needed to purchase the items in the basket.
