Which Statement Is True

question 70

Multiple Choice

Which statement is true?

• A)Employment discrimination plays virtually no role in determining the distribution of income.
• B)Training,education,and intelligence play a very large role in determining the distribution of income.
• C)In our society,it's basically who you know,rather than what you know that determines the distribution of income.
• D)None of the statements is true.

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Definitions:

Business Cycle

The fluctuations in economic activity that an economy experiences over a period of time, characterized by phases of growth (expansion) and decline (recession).

Game Theory

The study of how people behave in strategic situations in which individuals must take into account not only their own possible actions but also the possible reactions of others. Originally developed to analyze the best ways to play games like poker and chess.

Economies Of Scale

Cost advantages that enterprises obtain due to their scale of operation, typically associated with efficiencies in production as output increases.

Collusion

An agreement between firms in a market to limit competition and manipulate prices or market conditions.