How to Calculate the Increase in Output Needed to Provide Income for the Poor

What is the output increase needed to provide income for the 3 billion "severely" poor population?

How much more output per year will have to be produced in the world just to provide the 3 billion "severely" poor population with $1.25 more income per day?

Answer

$1395.75 billion/year more income per year will have to be produced in the world.

To calculate the increase in output needed to provide income for the 3 billion "severely" poor population with $1.25 more income per day, we can use the following formula:

output = 3 billion * $1.25 (per day) * 365 days (per year)

By substituting the values into the formula, we get:

output = 3 * 1.25 * 365 = $1395.75 billion/year

Therefore, an additional $1395.75 billion/year in income will have to be produced in the world to provide the 3 billion "severely" poor population with $1.25 more income per day.

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