Statement I: in 2008,19% of American Children Lived in Poverty

question 177

Multiple Choice

Statement I: In 2008,19% of American children lived in poverty.
Statement II: The welfare rolls expanded sharply from 1990 to 1994.

• A)Statement I is true and statement II is false.
• B)Statement II is true and statement I is false.
• C)Both statements are true.
• D)Both statements are false.

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Definitions:

Conditional sale contract

An agreement where the sale is conditional upon certain terms, often used in property and vehicle sales where possession is granted but legal ownership is retained by the seller until full payment is received.

Compounded monthly

The process of adding interest to the principal sum of a loan or deposit, where the interest is added monthly.

Compounded monthly

The process of calculating interest on an investment or loan each month, with each month's interest added to the principal.

Economic value

The worth of a good or service as determined by the market and the price a buyer is willing to pay.