Which of the Following Statements Is Not Correct

question 478

Multiple Choice

Which of the following statements is not correct?

• A)The percentage of the population that suffers from long-term poverty is far smaller than the percentage of the population that suffers from short-term poverty because there is a high level of economic mobility in the United States.
• B)Permanent income is a better measure of a family's ability to buy the necessities of life than is transitory income.
• C)The economic life cycle theory explains why gifts of goods and services reduce poverty for the very young and the very old.
• D)Because people can borrow and save to smooth out changes in income, their standard of living in any one year depends more on lifetime income than on a particular year's income.

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Definitions:

Wisconsin

A U.S. state located in the north-central, Midwest, and Great Lakes regions, known for its dairy production and natural resources.

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A clothing manufacturer in New York City whose factory burned down in 1911, leading to significant reforms in labor laws.

Consequences

Outcomes or effects that result from a previous action or decision, either positive or negative in nature.

Upton Sinclair

An American writer and social activist, famous for his novel "The Jungle" which exposed the harsh conditions of the U.S. meatpacking industry, leading to significant food safety reforms.