Which of the Following Is True

question 75

Multiple Choice

Which of the following is true?

• A) The majority of millionaires received most of their wealth through an inheritance.
• B) The percentage of the population that are millionaires in inflation-adjusted dollars has been stable since the 1970s.
• C) About one-third of millionaires have college degrees.
• D) More than 75 percent of American millionaires have college degrees.

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Definitions:

Law of Equity

A body of law that provides remedies and relief in situations where strict legal rules would be unfairly rigid, focusing on fairness and justice.

Gratuitous Promise

A vow or commitment to do something for someone else without expecting anything in return.

Breach of Contract

The act of breaking any terms and conditions that were mutually agreed upon in a legally enforceable contract.

Consideration

An item of worth traded between entities within a contract, essential for the contract to be considered enforceable by law.