The Benefit-Reduction Rate Is the Rate at Which Government Benefits

question 92

True/False

The benefit-reduction rate is the rate at which government benefits increase as the earned income of a family increases.

---

Definitions:

Inelastic Demand

Describes a market situation where the demand for a product does not significantly change in response to changes in its price.

Inelastic Demand

A type of demand that does not change much when the price of the product changes.

Agricultural Products

Goods that result from the cultivation of plants and the husbandry of animals, intended primarily for food, fiber, and raw materials.