Asked by Dathan Trejo on Jul 05, 2024

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Which statement accurately describes the current income distribution in the United States?

A) The purchasing power of lower-income groups has been steadily rising.
B) The middle class is outpacing all other income groups.
C) Wealthy households are outpacing both poor and middle-class households.
D) The income distribution among all households is becoming more equal.
E) Wealthy households are declining rapidly in purchasing power.

Income Distribution

The way in which a nation’s total earnings are spread among its population, affecting economic health and living standards.

Purchasing Power

The capacity of an individual or group to buy goods and services, often considered in terms of the real value of money or income in relation to prices.

Wealthy Households

Families or domestic groups with a high net worth, possessing substantial financial resources and assets.

  • Analyze the role of demographics, cultural values, and social trends in shaping marketing strategies.
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Morgan MoseleyJul 07, 2024
Final Answer :
C
Explanation :
The current income distribution in the United States shows that wealthy households have been outpacing both poor and middle-class households. There has been a significant increase in income inequality, with the top 1% seeing their incomes rise faster than the rest of the population. The purchasing power of lower-income groups has not been rising steadily, and the middle class is not outpacing all other income groups. The income distribution among all households is not becoming more equal, and wealthy households are not declining rapidly in purchasing power.