Which of the Following Statements About Social Class Is FALSE

question 33

Multiple Choice

Which of the following statements about social class is FALSE?

• A)The various classes tend to have different attitudes.
• B)The various classes tend to save money in different ways.
• C)Income by itself can be a pretty good measure of social class.
• D)The various classes tend to have different beliefs.
• E)The various classes tend to borrow money in different ways.

Understand the conditions under which a firm should continue operations or shut down in the short run.

Apply basic cost concepts to calculate costs, including ATC, AVC, and marginal cost given specific data.

Describe the effect of output changes on fixed, variable, and total costs.

Recognize the significance of Adam Smith’s pin factory example in illustrating economies of scale.

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