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

question 40

Multiple Choice

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:

• A)the gender gap
• B)hyper-inflation
• C)the income gap
• D)the 99 percent
• E)inflation

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Definitions:

Unrealized Profits

Gains on investments that have increased in value but the increase has not been realized through selling.

Economic Decisions

Choices made by individuals, businesses, or governments based on the allocation of scarce resources with the aim of maximizing benefits and minimizing costs.

Economic Activities

Economic activities encompass all actions that involve the production, distribution, and consumption of goods and services within an economy.

Ethical Conduct

The practice of behaving in a manner that is considered morally right, fair, and appropriate in a given context, especially in professional settings.