Laws Are Used to Explain Events

question 43

True/False

Laws are used to explain events.

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Definitions:

Lower Incomes

Refers to the segment of the population or individuals who earn comparatively less money relative to the median income.

Private Saving

The income that households have left after paying for taxes and consumption.

Consumption Tax

A consumption tax is a tax on the money people spend rather than the money people earn. It includes sales taxes, value added taxes (VAT), and others.

Means Testing

A method for determining eligibility for certain forms of government assistance based on the applicant's financial means or income level.