Which of the Following Statements Is True of Incomes in the U.S

question 41

Multiple Choice

Which of the following statements is true of incomes in the U.S.?

• A)​The average family incomes rose slightly in 2013 and 2014.
• B)The median household income is almost the same across different states.
• C)A person's demographics is the primary determinant of the person's earning potential. 
• D)​The median household incomes have peaked in the recent years.

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Definitions:

Surplus Material

Excess materials that are not required for current production needs and may be sold or reused in future projects.

Purchased Lots

Refers to parcels or quantities of goods acquired by a company, often used in reference to real estate or bulk purchases of inventory.

Relevant Cost

Costs that will be affected by a decision and will have an impact on the future.

Variable Production Cost

Charges that fluctuate in line with production levels, such as direct labor and materials used.