The Distributions of Income in the United States Is Strongly

question 34

Multiple Choice

The distributions of income in the United States is strongly skewed to the right. Which of the following is true?

• A)The median income is smaller than the mean income.
• B)The median income is larger than the mean income.
• C)The median income is equal to the mean income.
• D)There is not enough information to compare the median and mean values.

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Definitions:

Resources

Inputs used in the production of goods and services, such as labor, capital, land, and entrepreneurship.

Marginal Rate

The rate at which one variable changes relative to a change in another variable, often used in the context of taxes or production costs.

Transformation

The process of changing something from one form or state to another, often seen in context with business, personal development, or technology.

Unemployment

The situation when people who are willing to work at prevailing wage rates cannot find employment.