Which of These Statements Is the Best Description of Social

question 11

Multiple Choice

Which of these statements is the best description of social class in the United States?

• A) There is a very simple class structure with a very few wealthy landowners and the majority of others living comfortable lives.
• B) The social class system is very simple because throughout the society, there is relative equality.
• C) In the United States, social class is determined largely by occupation and thus is very malleable.
• D) The U.S. class system is elaborate; it could be depicted by a ladder with a different social class at each rung.

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Definitions:

Consumer Surplus

The difference between the total amount that consumers are willing to pay for a good or service and the total amount they actually do pay.

Consumer Surplus

The difference between what consumers are willing to pay for a good or service and what they actually pay, indicating the economic benefit to consumers.

Equilibrium Price

The price at which the quantity of a good or service demanded by consumers equals the quantity supplied by producers.

Producer Surplus

The difference between the amount producers are willing to accept for a good or service and the actual amount they receive.