Setting a specific income level and then defining a person (or household) as poor if his or her (or its) income falls below that income level is called a(n): select one: a. means-tested test. b. relative income test. c. absolute income test. d. nominal income test.

Option (c) is correct.

Explanation:

Correct: Absolute income test

Absolute income test is a measure of poverty in a country. In absolute income test, there is a setting of income level that is the benchmark for the poverty. This means that if a person's income falls above this income level then he is not considered as poor whereas if a person's income falls below this income level then he regarded as poor.

the definition of a small business is an independently owned and operated company that is limited in size and in revenue depending on the industry. a local bakery that employs 10 people is an example of a small business. a manufacturing facility that employees less than 500 people is an example of a small business.