The Poverty Line Is Officially Defined as

question 24

Multiple Choice

The poverty line is officially defined as

• A)earning below minimum wage.
• B)the minimum level of income considered necessary for individual and family needs.
• C)the income level of those who are unemployed and unable to support themselves.
• D)All of the above

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Definitions:

Variable

An element, feature, or factor that is liable to vary or change; in science and mathematics, a quantity that can assume any of a set of values.

Fixed Costs

Charges that are unaffected by changes in production or sales volumes, like lease payments, employee salaries, and insurance costs.

Fixed Costs

Financial obligations that do not fluctuate with changes in production levels or sales numbers, like rent, salary payments, and insurance premiums.

Direct Labor

This refers to the wages paid to employees who are directly involved in the production of goods or services.