Which of the Following Statements Is True

question 34

Multiple Choice

Which of the following statements is true?

• A) Income distributions have not changed much in the United States in the past 30 years.
• B) Progressive income tax structures are one method of making incomes more equal.
• C) The poverty line has not been adjusted at all in the past 30 years.
• D) Worldwide, no countries are catching up to the United States with respect to GDP per capita.

---

Definitions:

Total Revenue

The total income generated from the sale of goods or services before any expenses are subtracted.

Variable Costs

Expenses that change in proportion to the activity of a business, such as costs for raw materials and labor.

Fixed Costs

Expenses that remain constant regardless of the amount of production or output, like lease payments or wages.

Fixed Costs

Costs that do not vary with the level of production or sales, such as rent, salaries, and insurance, which are incurred regardless of the amount of goods or services produced.