Sociologists Divide Populations into a Number of Equal-Sized Statistical Categories,usually

question 94

Multiple Choice

Sociologists divide populations into a number of equal-sized statistical categories,usually called:

• A)income classes
• B)income strata
• C)wealth strata
• D)stratum
• E)income and wealth strata

---

Definitions:

Deadweight Loss

A loss of economic efficiency that can occur when equilibrium for a good or a service is not achieved or is not achievable.

Agricultural Market

A marketplace for the buying and selling of agricultural products, such as crops and livestock, often influenced by government policies.

Binding Price Floor

A government-imposed price control or limit that sets a minimum price above the equilibrium price, leading to surplus in the market.

Price Paid

The actual amount of money exchanged for a good or service.