The Multifactor Explanation of the Distribution of Earnings Typically Excludes

question 24

Multiple Choice

The multifactor explanation of the distribution of earnings typically excludes:

• A)innate ability
• B)family background
• C)non-monetary returns to training
• D)risk-taking and chance

---

Definitions:

Highest Attainable

Refers to the best or most favorable outcome or state that can be achieved within given constraints.

Total Utility

The overall satisfaction or fulfillment a consumer receives from consuming a given quantity of goods and services.

Marginal Utility

This refers to the additional satisfaction or utility that a consumer receives from consuming one more unit of a good or service.

Seventh Unit

Refers to the specific instance or item in a sequence or set, used here as a way to denote its particular position.