Which of the Following Is True of Economic Opportunities in Modern

question 8

Multiple Choice

Which of the following is true of economic opportunities in modern Latin America?

• A)As many as one of every three adults works in the informal Latin American economy.
• B)Income distribution for upper, middle, and lower classes is slowly evening out.
• C)The number of Latin American professionals, landowners, and business owners is growing.
• D)Unskilled urban workers are earning a great deal more than they have in the past.
• E)Industrial workers in most countries have begun actively participating in unions to secure employment.

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Definitions:

Expenses

Costs incurred in the process of earning revenue, including operational costs, overheads, and costs of goods sold.

Equivalent Variation

A measure in economics that represents the amount of money a consumer would need to reach their original utility after a price change.

Tax Imposed

A financial charge or levy mandated by a government on individuals or entities.

Extra Income

Additional money earned beyond the regular income, which can come from various sources such as a second job, investments, or side businesses.