Which of the Following Statements Is FALSE Regarding the Definition

question 118

Multiple Choice

Which of the following statements is FALSE regarding the definition of poverty?

• A) A threshold income level is used to define poverty.
• B) Adjustments to the poverty level are made on the basis of changes in the Consumer Price Index.
• C) Real incomes in the United States have been growing at a compounded annual rate of almost 2 percent per capita.
• D) Poverty cannot be defined in relative terms.

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Definitions:

Power Given As Security

Refers to a legal arrangement where authority or control over assets is given to someone as a form of security for a debt or obligation.

Agency Relationship

A legal relationship established when one party (the agent) is authorized to act on behalf of another (the principal) in business transactions.

Federal Statute

A law enacted by the legislative branch of the federal government of the United States.

Agency Relationships

A legal relationship where one party, the agent, is authorized to act on behalf of another party, the principal, in business transactions.