In-Kind Transfers Allow "Poor" Families to Enjoy a Higher Living

question 16

Multiple Choice

In-kind transfers allow "poor" families to enjoy a higher living standard than their cash incomes imply.Adding those transfers to cash incomes would bring the U.S.poverty count down into the 9-11 percent range since currently only cash income is considered.
-Which of the following statements is true?

• A)American poverty is less permanent than global poverty.
• B)American poverty standards are below world poverty standards.
• C)Approximately 25 percent of Americans live in poverty.

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Definitions:

Bankruptcy

A legal proceeding involving a business or individual that is unable to repay outstanding debts, leading to the disposition of assets to pay creditors.

Equitable Remedies

Non-monetary judicial remedies, such as injunctions or specific performance, granted when traditional legal remedies are inadequate to resolve a dispute fairly.

Adequate Remedies

Legal solutions or compensation that are considered sufficient to remedy a breach of contract or violation of rights.

Commercial Impracticability

A doctrine in contract law allowing parties to be released from their obligations due to unforeseen events that make execution of the contract excessively burdensome.