From 1989 to 2013, the Share of Wealth for the Top

question 6

Multiple Choice

From 1989 to 2013, the share of wealth for the top 3% of wealth holders in the United States

• A) decreased by about 8 percentage points.
• B) remained roughly the same.
• C) increased by almost 10 percentage points.
• D) increased by more than 45 percentage points.

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Definitions:

Product Price

The amount of money required to purchase a good or service, often influenced by factors such as supply, demand, production costs, and competition.

American Firms

Companies that are incorporated in the United States, operating under American law and often symbolizing the business culture and practices of the U.S.

Elastic Product Demand

A situation where the demand for a product changes significantly in response to changes in the product's price.

Variable Costs

Costs that vary directly with the level of production or output, such as materials and labor costs.