According to the Textbook, What Is One Conclusion We Can

question 63

Multiple Choice

According to the textbook, what is one conclusion we can draw about how social class is defined in the United States?

• A) Racial disparities in wealth can be explained solely by family advantages.
• B) Most American sociologists can agree on the boundaries between social classes.
• C) Famous people have higher the highest occupational prestige.
• D) One's educational attainment is the strongest predictor of one's occupation, income, and wealth later in life.

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Definitions:

Market Equilibrium

The state in which market supply and demand balance each other, leading to stable prices.

Prices of Resources

Refers to the cost associated with the inputs required for production, including labor, capital, and materials.

Determinant of Supply

Factors that influence the quantity of a good or service that producers are willing and able to sell at a given price, such as production technology, input prices, and expectations of future prices.

Equilibrium Price

The price at which the quantity of a good or service demanded by consumers equals the quantity supplied by producers.