The Bottom of the Pyramid (BOP) Refers to ______

question 40

Multiple Choice

The bottom of the pyramid (BOP) refers to ______.

• A)the largest sector of the four-tier pyramid used to represent the world's population by income
• B)the section of the economy occupied by the wealthiest individuals
• C)the smallest sector of the four-tier pyramid used to represent the world's population by income
• D)the section of the economy that serves as the base for future economic development

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Definitions:

Federal Transfer Payments

Payments from the federal government to individuals, states, or other governmental entities without any requirement for repayment.

GDP

GDP, the cumulative market price of all ultimate goods and services produced within the confines of a country over an allotted timeframe.

Government

The system or group of people governing an organized community, often a state, including institutions and mechanisms that regulate and guide the community or society.

Marginal Tax Rate

The percentage of tax applied to your income for each tax bracket in which you qualify, essentially the tax rate on the last dollar of income earned.