Which of the Following Statements Is True

question 61

Multiple Choice

Which of the following statements is true?

• A) The United States has a greater gap in income between the poorest and richest than any other developed nation.
• B) The gap between rich and poor can be explained by American support of oligarchy.
• C) American politics is structured by centuries-long class antagonism.
• D) Income gaps between Americans are small compared with those in other developed nations.
• E) The United States has a smaller gap in income between the poorest and richest than any other developed nation.

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Definitions:

Supply Increase

A rise in the quantity of a product or service that is available for purchase, which can affect market prices and demand levels.

Equilibrium Price

The price at which the quantity of a good or service demanded equals the quantity supplied, resulting in market equilibrium.

Surplus

An excess amount of something, often referring to goods, services, or resources that exceed what is needed or used.

Equilibrium Price

The price at which the quantity of a good or service demanded equals the quantity supplied, leading to a situation where there is no tendency for the price to change unless external factors intervene.