As of 2010,for Income Distribution in the United States,the Minimum

question 46

Multiple Choice

As of 2010,for income distribution in the United States,the minimum family earnings in the top quintile were approximately _______ times the maximum family earnings in the bottom quintile.

• A)3
• B)5
• C)7
• D)10.

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Definitions:

Neoclassical School

An economic theory that emphasizes the role of supply and demand in determining the price and quantity of goods and services offered in a market, focusing on rational behavior and equilibrium.

Capitalism

An economic system where private individuals own and control trade and industry instead of the state.

Private Ownership

The legal right of a person or corporation to exclusively possess, control, and dispose of property or goods.

Classless Society

An envisioned social state without economic divisions or disparity where all individuals have equal status and opportunities.