Weegy: The income effect is the change in an individual's or economy's income and how that change will impact the quantity demanded of a good or service. User: People who live in the inner city have an easier time finding higher paying jobs. (More)

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Weegy: TRUE The poverty threshold is the income level below which income is insufficient to support a family or household. User: Poverty rate is the percentage of people who live in households with income below the official poverty line. Weegy: Poverty rate is the percentage of people who live in households with income below the official poverty line. TRUE. User: The increase in single parent families living below the poverty level has been theorized by some critics to be a direct result of the sharp increase in the divorce rate. Weegy: The increase in single parent families living below the poverty level has been theorized by some critics to be a direct result of the sharp increase in the divorce rate. This is TRUE. User: When plotted on a Lorenz Curve, the income distribution curve for the town of Lakeview is a straight line from 0 to 100%. This means that a. The lowest three fifths of the population earns about the same amount as the highest two fifths. b. Everyone in Lakeview earns about the same income. c. The lowest fifth of Lakeview’s population earns about 20 percent less than the highest fifth. d. There is not enough information to answer the question. (More)

Weegy: A recession is the period in which real GDP 'decreases' over two consecutive quarters. FALSE. User: The market basket is _____________. a. another term for the CPI. b. a term used to define consumers in a given market. c. a representative collection of goods and services. d. a continuous rise in the price of goods or services combined with the reduced value of money. Weegy: (More)