The Official Number of Poor in the United States

question 251

Multiple Choice

The official number of poor in the United States

• A) is higher today than at any other time in our history.
• B) has risen steadily since 1981.
• C) was lowest in the late 1960s.
• D) is lowest today.

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Definitions:

Individual Seller

A single entity or person engaged in the act of selling goods or services, typically on a small scale or directly to consumers.

Producer Surplus

The difference between what producers are willing to accept for a good versus what they actually receive, due to higher market price.

Individual Producer Surplus

The net gain to an individual seller from selling a good; equal to the difference between the price received and the seller’s cost.

Phantom Tickets

Tickets for an event that are sold or promised to a customer but actually do not exist or are not available.