As the War on Poverty Programs Were Instituted and Transfer

question 61

Multiple Choice

As the War on Poverty programs were instituted and transfer payments expanded in the last half of the 1960s, what happened to the poverty rate?

• A) After rising for several decades, the official poverty rate has been declining since 1968.
• B) After falling for several decades, the official poverty rate leveled off in the 1970s, and it has been relatively stable since that time.
• C) The poverty rate declined prior to the War on Poverty period, and it has continued to decline.
• D) The poverty rate rose prior to the War on Poverty period and has continued to rise.

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Definitions:

Output

The total amount of goods or services produced by an individual, company, or country.

Total Variable Cost

The sum of all costs that vary with output level in the production process.

Marginal Cost

The augmentation in cost due to the manufacture of one additional unit of a product or service.

Total Variable Cost

The sum of all costs that vary with the level of output, including materials and labor directly involved in production.