In the United States, the Poverty Line Is Calculated by

question 87

Multiple Choice

In the United States, the poverty line is calculated by

• A) estimating the minimum income to maintain working-class status.
• B) estimating the percentage of households living in relative poverty.
• C) determining the income cut-off for the lowest 20 percent of households.
• D) determining the minimum amount of money needed for food and multiplying it by three.

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Definitions:

LLP

Limited Liability Partnership, a legal entity where some or all partners have limited liabilities, protecting personal assets from business debts and liabilities.

State Statute

A written law enacted by a state legislature or other governing authority.

Limited Partnership

A form of business organization that has one or more general partners who manage the business and have unlimited liability for the obligations of the business and one or more limited partners who do not manage and have limited liability.

Limited Liability Status

A legal status which limits the amount of financial loss and legal liability an individual's investment can incur to the amount invested in a corporation, protecting personal assets from company debts and obligations.