If One Includes In-Kind Income in the Calculation, the

question 41

Multiple Choice

If one includes in-kind income in the calculation, the

• A)official poverty rate becomes meaningless.
• B)incidence of poverty actually increases.
• C)poverty rate is unchanged.
• D)fraction of the population in poverty drops.

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Definitions:

Cross-Price Elasticity

A measure of how the quantity demanded of one good responds to a change in the price of another good.

Demand

The amount of a good or service that consumers are willing and able to buy at a given price over a specified period.

Cross-Price Elasticity

A measure of how the demand for one product changes in response to a price change of another product.

Cereal

Grasses cultivated for the edible components of their grain, consisting of the endosperm, germ, and bran; also a common breakfast food made from processed grain.