Answer the Question on the Basis of the Following Data

question 170

Multiple Choice

Answer the question on the basis of the following data for a private closed economy. $\begin{array}{l}\text { Possible Levels of Domestic }\\\begin{array} { c c c } \underline{\text { Output and Income (GDP = DI) } }&\underline{ \text { Consumption }} \\\$320& \$ 320 \\330 & 327 \\340 & 334 \\350 & 341 \\360 & 348 \\370 & 355 \\380 & 362\end{array}\end{array}$ Refer to the data.At the $370 billion level of DI,the APS is approximately:

• A) 4 percent.
• B) 7 percent.
• C) 1 percent.
• D) 16 percent.

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Definitions:

Welfare Rolls

A term referring to the list or number of individuals receiving government assistance for living expenses due to economic hardship.

Welfare Reform Law

Legislation aimed at changing the way welfare services are delivered, often intended to reduce dependency and incentivize employment.

Poverty Rate

The proportion of the population living below the poverty line, indicating how many individuals live in economically insufficient conditions.

Welfare Reform

Changes in the public policy and legislation aimed at improving the efficiency and effectiveness of welfare programs.