Lesson 60 - unit 12 Flashcards
What was the total net household worth of the United States population in 2009?
$53 trillion.
What was the average personal worth and the average personal income of Americans in 2009?
Average personal worth was over $100,000 and annual income was $49,000.
What did Mollie Orshansky determine as the official guideline for defining poverty?
Three times the amount of money needed for an economical food budget, adjusted for the number of persons in a household.
What percentage of the U.S. population lived in poverty in 2009?
13.2%
What was the trend of income in the first decade of the twenty-first century century?
The percentage of total income earned by the wealthiest 1% increased, while the total income of the rest of Americans decreased.
What are the 2 major factors that contribute to a household being poor/
The people not working very much and the father being absent.
What event did Steve Mariotti to go into teaching?
Being mugged and robbed.
What event opened the door for Mariotti to teach entrepreneurship to low income youths?
Mariotti getting desperate and trying to sell his watch to the kids.
What is the two-fold plan of NFTE?
To recruit the best business and academic minds and to use high technology in their teaching models.
