The breakeven level of income is the
A. Amount of income a person must have to reach the poverty line.
B. Level of income at which an individual household begins to have some discretionary income.
C. Lowest level of income at which in-kind benefits are no longer necessary.
D. Level of income at which welfare eligibility ceases.
Answer: D
You might also like to view...
In reality, because few markets are perfectly competitive, some loss of economic efficiency occurs in the market for nearly every good or service
Indicate whether the statement is true or false
The law of demand indicates that as the price of a good increases, the quantity that
A. buyers are able to purchase increases. B. producers are willing to produce of an item decreases. C. buyers are able to purchase decreases. D. producers are willing to produce of an item increases.
In Figure 2.1, Box 3 would be labeled
A. S for supply. B. D for demand. C. P for price. D. P* for equilibrium price.
Consumers do not prefer gifts-in-kind to cash gifts
Indicate whether the statement is true or false