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Since 1950,the Average Incomes of Every Income Group Increased-Though the Incomes

question 40

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Since 1950,the average incomes of every income group increased-though the incomes of the wealthiest Americans (the top 5 percent) increased more sharply than those of any others.This observation is also referred to as:

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Definitions:

Real Property

Real Property entails land and anything permanently affixed to it, such as buildings, in contrast to personal property or chattels.

Taxes Assessed

The determination and assignment of the value for tax purposes on property, income, or other taxable assets.

Due

Owed or expected at a certain time; often refers to payments, obligations, or duties that are scheduled or required to be fulfilled within a specified time frame.

Abstract of Title

a summary or condensed version of the legal history of an asset, particularly real estate, detailing transfers, encumbrances, and any litigation concerning the property.

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