Table 20-4 Source: U.S. Bureau of Census

question 41

Multiple Choice

Table 20-4 Source: U.S. Bureau of Census
-Refer to Table 20-4. In 2011, the bottom 60% of families have

• A)about 13% of total income in the U.S.
• B)about 28% of total income in the U.S.
• C)about 51% of total income in the U.S.
• D)about 74% of total income in the U.S.

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Definitions:

Export Operations

Activities involved in sending goods or services to another country for sale.

Tariff Classification

A system used by customs to categorize goods being imported or exported to determine duties and taxes.

Sight Draft

A financial document demanding immediate payment upon presentation to the drawee.

Sale of Goods Act

A set of laws that regulate the sale of goods, providing rights to buyers and obligations to sellers, including provisions for the quality, fitness, and description of the goods.