Please Answer the Next Several Questions Using Table 12

question 20

Multiple Choice

Please answer the next several questions using Table 12.4 below which contains data for 2015.

-Which states (and the District of Columbia) listed below have the highest percentage of impoverished persons

• A) Kentucky
• B) Arkansas
• C) New Mexico
• D) Mississippi

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Definitions:

Consumption Bundle

A combination of goods and services that a consumer chooses to consume given their budget constraints.

Utility Function

A mathematical representation of how consumers rank different bundles of goods according to their level of satisfaction or utility.

Consumption

The process by which goods and services are used up by consumers.

Indifference Curves

A graphical representation showing combinations of goods or services among which a consumer is indifferent, depicting equal levels of utility.