Which of the Following Statements Is True About Incomes in the United

question 38

Multiple Choice

Which of the following statements is true about incomes in the United States?

• A)The average family incomes rose by one percent in 2012.
• B)The median household income in almost the same across different states.
• C)Most individuals in the United States prefer to wait for high-paying jobs to taking up lesser paying jobs.
• D)The median household incomes have peaked in the United States in the recent years.

Identify and explain the concept of marginal productivity and its role in income distribution and resource allocation.

Analyze the effects of technology on employment and the substitution and complementarity between capital and labor.

Recognize the conditions for profit maximization in firms with respect to their input use.

Explain the concept of derived demand in the context of resource markets.

---

Definitions:

Political Influence

The power to affect governmental actions, policies, or decision making through various means, including lobbying, advocacy, or public pressure.

Wealth

An abundance of valuable financial assets, resources, or material possessions.

Freedom of the Press

The right to publish and disseminate information, opinions, and news without censorship or restraint from the government.

Eighteenth Century

The period from 1701 to 1800, marked by significant historical, cultural, and scientific developments worldwide.