Examlex
Suppose demand and supply in a market can be expressed by these equations:
QD = 40 - 0.5P
QS = 15 + 2P
Calculate the equilibrium price and quantity.
Social Security System
A government program that provides financial assistance to people with insufficient or no income, typically covering the elderly, disabled, and unemployed.
Unemployment Compensation
A state government transfer program that pays cash benefits for a certain period of time to laid-off workers who have worked for a specified period of time for a covered employer.
Assistance Program
A governmental or organizational initiative designed to provide support, financial or otherwise, to individuals or groups in need.
Poverty Line
The minimum level of income deemed adequate in a particular country to sustain a standard of living.
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