Which of the Following Reflects a Status Inconsistency Relating to Social

question 20

Multiple Choice

Which of the following reflects a status inconsistency relating to social class?

• A) A person from a blue-collar family earns an income above the median family income.
• B) A person from a blue-collar family earns an income comparable to other blue-collar families.
• C) A person from a white-collar family earns an income comparable to other white-collar families.
• D) None of the above reflect an inconsistency.

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Definitions:

Economic Profits

The difference between a firm's total revenues and its total economic costs, where economic costs include both explicit and implicit costs.

Perfectly Competitive

In a perfectly competitive market, there are many buyers and sellers, the products are homogenous, and no single entity can influence the market price.

Demand Rises

Occurs when there is an increase in the quantity of a good or service that consumers are willing and able to purchase at a given price.

Economic Profit

The disparity measure in between overall returns and full expenses, including both exposed and indirect costs.