The Official Poverty Definition in the U

question 42

Multiple Choice

The official poverty definition in the U.S.is having an income that

• A)provides minimum biological needs
• B)is less than three times the cost of a nutritionally adequate yet frugal diet
• C)places the household in the bottom 20 percent of the income distribution
• D)is less than the average U.S.welfare allowance
• E)is approximately equal to the average household income of Canada

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Definitions:

Expected Value

The mathematical average of all possible outcomes of a random variable, weighted by their respective probabilities.

Stocks

Shares of ownership in a company, which represent a claim on the company's earnings and assets.

Investment

Applying resources, typically financial, in order to gain income or profit.

Portfolio

An aggregation of financial instruments such as company shares, debt securities, tangible commodities, available cash, and cash-like resources, including mutual funds and ETFs.