Which of the Following Statements About U

question 123

Multiple Choice

Which of the following statements about U.S. consumer households is true?

• A) Married couples with no children 18 or younger account for half of all U.S. households.
• B) The typical American household is a married couple living in the suburbs with two children.
• C) The number of families living "on the farm" has dropped to an all time low of 15 percent.
• D) About two thirds of all adults are now single.
• E) None of the above is true.

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Definitions:

Pure Competition

Occurs when different companies sell commodity products that consumers perceive as substitutable; price usually is set according to the laws of supply and demand.

Oligopolistic Competition

Occurs when only a few firms dominate a market.

Commercial Airline Travel

The aspect of aviation that involves operating aircraft for hire to transport passengers or cargo on scheduled or charter services.

Electrical Service

Maintenance, repair, and installation services provided for electrical systems and components in buildings and infrastructure.