In the United States, Differences Between the Rich and Poor

question 39

True/False

In the United States, differences between the rich and poor in terms of income and wealth are growing.

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Definitions:

Circular Flow Model

An economic model illustrating the continuous flow of goods, services, and money between households and businesses in an economy.

Public Agency

An organization operated by the government to manage specific functions or provide services such as education, health, or transportation.

Business Structure

The legal and organizational framework chosen by a company that defines its operations, liabilities, responsibilities, and regulatory obligations.

Sole Proprietorship

An unincorporated firm owned and operated by one person.