In Comparison to the Average Poverty Rate

question 203

Multiple Choice

In comparison to the average poverty rate,

• A)children and the elderly are more likely to be poor.
• B)children and the elderly are less likely to be poor.
• C)children are more likely to be poor, but the elderly are less likely to be poor.
• D)children are less likely to be poor, but the elderly are more likely to be poor.

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Definitions:

Price Floor

A government- or authority-imposed minimum price on goods or services, below which they cannot be sold, usually set to prevent market prices from falling too low.

Shortage

A scenario where the market demand for a service or product surpasses its available supply.

Surplus

An amount of something left over when requirements have been met; an excess of production or supply.

Price Ceiling

A maximum legal price that can be charged for a good or service, aimed at preventing prices from becoming too high.