Since 1950, the Average Incomes of Every Income Group Increased

question 86

Multiple Choice

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

• A)the gender gap.
• B)hyperinflation.
• C)the income gap.
• D)the baby boom effect.

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Definitions:

Critical

Pertaining to a crucial or decisive point that requires immediate attention or presents a significant challenge.

Competition

The rivalry between businesses to sell their goods or services to customers, often leading to better quality and prices.

Environmental Change

Alterations to the natural environment caused by human activity or natural processes, impacting ecosystems, climate, and land use.

Small Business

A privately owned and operated business, usually characterized by small number of employees and modest revenue.