Scenario: In the fictional nation of Gallifrey, the subsistence level of income is $1,000 per year. Currently 3 million people live in Gallifrey, and GDP in Gallifrey is $2 billion.
-Refer to the scenario above.How does the average level of income in Gallifrey compare to the subsistence level?
A) Citizens of Gallifrey currently have incomes above subsistence, on average.
B) Citizens of Gallifrey currently have incomes equal to subsistence, on average.
C) Citizens of Gallifrey currently have incomes below subsistence, on average.
D) It is impossible to answer this question without additional information.
Correct Answer:
Verified
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