Erin Makes Around $15,000 Per Year

question 16

Multiple Choice

Erin makes around $15,000 per year.Until recently,she worked in the manufacturing sector at a factory.However,it recently closed and relocated to a country with lower wages.Erin likely lives in a __________economy.

• A)low-income
• B)lower-middle income
• C)upper-middle income
• D)high-income

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Definitions:

Big Business

Large-scale or major corporations and enterprises that have significant influence on the economy, often with considerable power and resources.

Debt

A sum of money that is owed or due.

Thrift

The practice of saving money and spending it wisely, often associated with frugal living.

Reconstruction Finance Corporation

Federal program established in 1932 under President Herbert Hoover to loan money to banks and other institutions to help them avert bankruptcy.