Which of the Following Accurately Describes the Stratification System

question 47

Multiple Choice

Which of the following accurately describes the stratification system?

• A) The key to understanding stratification is to rely only on income; that is, the more money you have, the higher your status.
• B) To achieve a high status, you must have a comparable amount of income, education, and occupational prestige.
• C) It is impossible to have a high status without having a high income.
• D) Income, education, and occupation often are correlated, but there are notable exceptions.
• E) All of the above accurately describe the stratification system.

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Definitions:

Loan

Borrowed money that is typically repaid with interest.

Compounded Daily

The process of calculating interest where the accrued interest is added to the principal sum each day, resulting in interest earnings on interest.

Investment Account

An account held at a financial institution that is used by investors to hold and manage securities, such as stocks, bonds, and mutual funds, and other investments.

Rate Of Return

The gain or loss on an investment over a specified time period, expressed as a percentage of the investment’s initial cost.