The Largest Drop in the Percentage of Families Below the Poverty

question 85

Multiple Choice

The largest drop in the percentage of families below the poverty level occurred

• A)in the 1960s
• B)in the 1970s
• C)in the 1980s
• D)in the early 1990s
• E)during the recession of the early 1980s

---

Definitions:

Semi-annual compounded

Interest on an investment is calculated twice a year and added to the principal.

Nominal rate

The stated or face interest rate on a loan or investment, not adjusted for inflation or the frequency of compounding.

Compounded annually

A way of calculating interest where the interest is added to the principal at the end of each year, leading to an increase in the amount on which the following year's interest is calculated.

RRSP fund

A Registered Retirement Savings Plan (RRSP) fund is a retirement savings plan sponsored by the Canadian government, allowing citizens to save for retirement on a tax-sheltered basis.