Which of the Following Statements About the Middle Class in the United

question 58

Multiple Choice

Which of the following statements about the middle class in the United States is false?

• A) The middle class makes up about 30% of the population.
• B) Wages and salaries in the middle classes have increased since the 1980s.
• C) Most people identify as middle class.
• D) All of the above are true.

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Definitions:

Spending Legislation

Legislation that dictates how government funds are to be spent, often detailing specific allocations for public sector initiatives and programs.

Negative Externalities

Economic activities that impose a negative effect on an unrelated third party, such as pollution from a factory affecting nearby residents.

Public Choice Economist

An economist who applies economic theories and methodologies to analyze and understand political behavior and decisions, particularly in the context of public policy and government actions.

Rent-Seeking Behavior

Actions by individuals or firms to obtain economic gains through manipulation or exploitation of the political or social environment, rather than through productive economic activity.