The 2011 U

question 420

Multiple Choice

The 2011 U.S. distribution of income shows that the top 5 percent of families earn approximately how much income per year?

• A)$170,000 and over
• B)$205,000 and over
• C)$250,000 and over
• D)$325,000 and over

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Definitions:

Compasses

Instruments used for navigation and orientation that show direction relative to the geographic cardinal directions (North, South, East, and West).

Absolute Advantage

The ability of an individual, company, or country to produce a good or service more efficiently than others with the same resources.

Gain From Trade

The benefit that arises from efficient allocation of resources, allowing parties involved to obtain goods or services they desire at a lower opportunity cost.

Condition

The current state or quality of an item, product, or entity, often used to describe something's appearance, functionality, or working order.