Using the Relative Poverty Measure,which Means Being Below One Half

question 66

True/False

Using the relative poverty measure,which means being below one half of the national median income,more than 20 percent of the population has been in poverty over the past forty years.

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Definitions:

Grapes

Edible berries, typically growing in clusters on a vine, used in making wine, eaten fresh, or dried to produce raisins.

Demand Function

A mathematical function showing the quantity of a good demanded at different prices.

Price Elasticity

Price elasticity measures the responsiveness of the quantity demanded or supplied of a good to a change in its price.

Yen

The official currency of Japan, known internationally by its symbol ¥.