Use the Following to Answer Question(s): Income Distribution in the United

question 119

Multiple Choice

Use the following to answer question(s) : Income Distribution in the United States

-A factor that has been associated with the increase in income inequality in the United States is the:

• A) decrease in households headed by single women.
• B) reduction in the percentage of the population over the age of 65.
• C) larger gap between the wages of skilled and unskilled workers.
• D) slowdown in technological change.

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Definitions:

Prices

The amount of money required to purchase a good, service, or asset.

Oligopolies

Market structures characterized by a small number of firms dominating the market, often leading to limited competition.

Horizontal Demand Curve

Represents a situation in which the demand for a product is perfectly elastic, indicating that consumers are willing to purchase any quantity of the product at a specific price.

Differentiated Product

A product that is distinguished from similar products in the market by unique characteristics or features, often leading to brand loyalty.