Amount of Income Alone May Not Be a Good Single

question 58

True/False

Amount of income alone may not be a good single variable to measure social class.

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Definitions:

Oil

A fossil fuel in liquid form, primarily used as a source of energy and as a base for petrochemicals, extracted from underground reservoirs.

Coal

A combustible black or brownish-black sedimentary rock used primarily as a source of energy and heat.

Tariff

A tax imposed on imported goods and services to protect domestic industries or raise government revenue.

Opportunity Cost

The forfeiture of potential benefits from other options when a particular choice is made.