When Considering a Person's Standard of Living, Data on the Income

question 307

Multiple Choice

When considering a person's standard of living, data on the income distribution and the poverty rate may provide an incomplete picture because the poor may

• A)receive in-kind transfers.
• B)be lending to smooth their income over their life cycle.
• C)be saving to smooth their income due to a drop in transitory income.
• D)under-report their income.

---

Definitions:

Asphyxiated

The state of being deprived of oxygen, leading to unconsciousness or death; suffocation.

Metaphorical

Relating to, using, or denoting a thing that symbolizes or stands for something else, especially in literature and art.

Literal

Pertaining to the exact meaning of words or text without interpretation or exaggeration.

Stipulative Definitions

Definitions that assign a meaning to a word for the first time, without regard for any previous meanings.