Which of the Following Would Most Likely Increase Income Inequality

question 137

Multiple Choice

Which of the following would most likely increase income inequality?

• A) improvements in public education
• B) greater monopoly power among product sellers
• C) greater equality in the distribution of wealth
• D) fewer differences in working conditions across occupations

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Definitions:

Cost Of Goods Sold

The total cost associated with making or buying products that a company has sold during a specific period.

Gross Profit

The financial gain achieved after deducting the cost of goods sold from total sales revenue, not including other operating expenses, interest, or taxes.

Decreasing Costs

A situation where a company experiences a reduction in the total cost of production or operation over time, often through economies of scale or improved efficiency.

FIFO

An inventory valuation method where the first items purchased or produced are considered the first sold, standing for First-In, First-Out.