text: It estimates that `` in 2001 , 1.1 billion people had consumption levels below $ 1 a day and 2.7 billion lived on less than $ 2 a day . ''
simplified: Moderate poverty is when people have to live on less than $ 2 a day . In the year 2001 , 1.1 billion people were seen as extremely poor , and 2.7 billion were seen as moderately poor .