All of the Following Are Major Social Classes Identified in the United

question 15

Multiple Choice

All of the following are major social classes identified in the United States EXCEPT _____.

• A) Upper Class
• B) Upper Middle Class
• C) Middle Middle Class
• D) Lower Upper Class
• E) Upper Lower Class

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Definitions:

Net Income

The final amount a company keeps as profit after deducting all costs and taxes from its gross revenue.

Marginal Tax Rate

The rate of tax imposed on your income, corresponding to each applicable tax bracket.

Average Tax Rate

Total taxes paid divided by total taxable income.

Net Working Capital

The difference between a company’s current assets and current liabilities, indicating the liquidity of the business.