The official U.S. poverty standard was set in 1963 at $3,000 per year for a family of four.
Answer the following statement true (T) or false (F)
True
In 1963 it was determined that $1,000 per year was needed to purchase a 'minimally adequate' diet for a family of four. It was estimated that other basic necessities like housing, clothes, transportation, and so forth would cost twice as much as the food staples. So they concluded that a budget of $3,000 per year would fund a 'minimally adequate' living standard for a U.S. family of four. That standard became the official U.S. poverty threshold in 1963.
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