Data Show That U

question 2

Multiple Choice

Data show that U.S.poverty rates in 2015 among those 18-64 years old was _____

• A)8.8 percent.
• B)10.1 percent.
• C)12.4 percent.
• D)21.3 percent.
• E)19.7 percent.

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Definitions:

Total Utility

The total satisfaction received from consuming a particular quantity of goods and services.

Indifference Curve

A graph representing combinations of two goods or services among which a consumer is indifferent, showing preference levels.

Optimal Consumption

The mix of goods and services that maximizes consumer utility or satisfaction given their budget constraints.

Indifference Curve

A graph showing different combinations of two goods among which a consumer is indifferent.