Explain the Difference Between a Wage and a Salary

question 42

Essay

Explain the difference between a wage and a salary.

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Definitions:

Upper Class

The segment of society that possesses the highest level of wealth, social status, and influence.

Wealth

A measure of net worth that includes income, property, and other assets.

Bottom 90 Percent

Refers to the vast majority of a population that is not within the top 10% in terms of wealth or income, often emphasizing disparities in wealth distribution.

Middle Class

Social class composed primarily of white collar workers with a broad range of education and incomes; they constitute about 30 percent of the U.S. population.