In the United States, Professionals and Managers with Advanced Degrees

question 14

Multiple Choice

In the United States, professionals and managers with advanced degrees and family incomes of $120,000 or more comprise the

• A) very rich
• B) middle class
• C) upper-middle class
• D) national median

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Definitions:

Installment Sales

A sales method allowing customers to make payments over a period of time until the full price is paid.

Gross Profit

A company's total revenue minus its cost of goods sold, indicating the basic profitability of its products or services.

Interest Payments

the regular payments made by a borrower to a lender, typically a percentage of the outstanding debt, as compensation for the loan or credit provided.

Deferred Gross Profit

The portion of gross profit that is not recognized in the current period due to installment sales or revenue recognition policies.