Which of the Following Is the Best Explanation of Guaranteed

question 128

Multiple Choice

Which of the following is the best explanation of Guaranteed Income Supplement?

• A)a monthly benefit offered by provincial governments to low-income seniors
• B)a benefit based on a person's age and years as a Canadian resident
• C)taxable income in the hands of the recipient
• D)an additional monthly benefit paid to seniors who receive the OAS

---

Definitions:

Quantity of Output

The total amount of goods or services produced by a company, sector, or economy within a specified period.

Costs

The expenditure incurred by a business in the process of producing or providing goods or services.

Variable Costs

Expenses that change in proportion to the activity of a business, such as materials and labor costs.

Quantity of Output

Refers to the total amount of goods or services produced by a company over a specific period.