Table 20-1 -When We Compare the Income Distribution of the United States

question 74

Multiple Choice

Table 20-1

-When we compare the income distribution of the United States to those of other countries,we find that the U.S.

• A) has one of the most unequal income distributions.
• B) has one of the most equal income distributions.
• C) ranks in the middle of the group.
• D) is second to China as the most unequal distribution.

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Definitions:

Total Revenue

The total amount of income generated by the sales of goods or services associated with a company's primary operations.

Average Revenue

The amount of income generated per unit of sale, calculated by dividing total revenue by the number of units sold.

Total Revenue

The entire amount of income generated by the sale of goods or services, before any expenses are deducted.

Variable Costs

Costs that vary in direct proportion to the volume of output or production in a company.