Statistical Data Provided by the U

question 8

Multiple Choice

Statistical data provided by the U.S. Department of Transportation shows that the median income of individuals traveling on the nation's bus systems is $18,000 compared to $65,000 for those who normally travel by air. This finding is best explained by which of the following statements?

• A) Persons with high income are more likely to fly because the opportunity cost of their time is generally higher than those with lesser income.
• B) Traditionally, lower income groups prefer slower methods of transportation.
• C) Wealthy individuals own stock in the airlines and, therefore, receive preferential treatment.
• D) Low-income groups are generally located near bus stations; wealthy groups congregate around airports.

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Definitions:

Personal Liability

The state of being legally responsible for one's debts and obligations, potentially risking personal assets in litigation or debt repayment.

Legal Administrator

A professional responsible for managing the day-to-day operations of a law firm or legal department.

Billing Procedures

The specified methods and processes set by a business or organization on how charges, payments, and invoices are issued, tracked, and collected.

Office Procedures

Established methods and protocols for handling tasks and operations within an office environment to ensure efficiency and consistency.