Asked by Shay D. Davis on May 26, 2024

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Which statement is the most accurate?

A) Most Americans earn over $50,000 a year.
B) Those that made Forbes Magazine's 100 Top Celebrities List made no more than $25 million a year.
C) In the United States,there is a wide disparity of income.
D) Although some wage rates are set by supply and demand,these are the exception,not the rule.

Disparity of Income

The gap in income and wealth distribution among individuals or groups within a society, leading to economic inequality.

  • Recognize income disparities and factors influencing wage determination.
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Christopher GreenfieldJun 01, 2024
Final Answer :
C
Explanation :
According to various studies and reports, income inequality is a significant issue in the United States. The gap between the rich and the poor is enormous, and the middle class is shrinking. Therefore, statement C is the most accurate. A is incorrect because the median income in the US is around $62,000, and only a minority of Americans earn above $50,000. B may be true for a select few celebrities, but it does not apply to the vast majority of people in the US. D is incorrect because the forces of supply and demand play a crucial role in setting wages in many industries, and they are not just the exception.