The Social Class That Has Been Hardest Hit by Deindustrialization

question 3

Multiple Choice

The social class that has been hardest hit by deindustrialization has been the

• A) capitalist class
• B) white-collar middle class
• C) blue-collar working class
• D) upper-middle class

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Definitions:

Variable Costs

Prices that adjust based on the quantity of products made or sold.

Pretax Income

Income earned by an entity before any taxes have been deducted.

Operating Leverage

The degree to which a firm or project can increase operating income by increasing revenue, reflecting the fixed versus variable cost structure.

Clockworks Co.

A hypothetical or generic name that could be used to refer to a company specializing in mechanical devices, especially those involving gears and timekeeping mechanisms.