Consumers Who Earn Under $1 Per Day Are Considered to Be

question 11

Multiple Choice

Consumers who earn under $1 per day are considered to be in which of the following income categories?

• A) Extreme poverty
• B) Subsistence
• C) Low income
• D) Moderate income

---

Definitions:

Economic Profit

The contrast between earnings from outputs sold and the opportunity cost of using specific inputs.

Interest Rate

The proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage of the outstanding loan.

Interest Rate

The percentage of a loan amount charged by the lender to the borrower for the use of assets, expressed as an annual percentage of the principal.

Inflation Rate

The percentage rate at which the general level of prices for goods and services is rising, and subsequently, purchasing power is falling.