Examlex
A closely held C Corporation's passive losses may offset its active income.
Social Stratification
Refers to the way in which society is organized into layers based on wealth, power, and status.
Hierarchical Structure
An organizational system arranged in levels of importance or authority.
Wealthy Country
A nation characterized by a high level of economic development, significant gross domestic product (GDP) per capita, and an overall high standard of living.
Cultural Capital
Refers to the beliefs, tastes, norms, and values that people draw on in their everyday life.
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