Max's Family Is Part of What Is Called "The New

question 22

Multiple Choice

Max's family is part of what is called "the new rich." They are the newer social elite, drawn from current professionals. His father is a medical doctor and his mother is vice president at a large urban bank. Max's family (based on the description given in the text) belongs to which of the following social class categories?

• A) Upper- Middle
• B) Middle
• C) Lower- Upper
• D) Upper- Upper
• E) Lower- Middle

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Definitions:

Exchange Rates

The value of one currency for the purpose of conversion to another; it determines how much of one currency can be exchanged for another currency.

Free Market

An economic system where prices for goods and services are determined by the open market and consumers, free from government intervention.

Subsidies

Financial support extended by the government to lower the price of goods or services or to support businesses.

Tulip Growers

Individuals or businesses specialized in cultivating tulips, often for the purposes of selling flower bulbs or cut flowers.