Asked by Pankaj Bhardwaj on May 02, 2024
Verified
The middle class has been experiencing a "squeeze"because
A) Americans no longer like hard work.
B) individuals do not work as many hours as they should.
C) Americans are spendthrifts rather than savers.
D) their real median household income has declined.
Middle Class
A socioeconomic group positioned between the working class and upper class, characterized by moderate income, educational attainment, and occupational status.
Real Median Household Income
The midpoint of household income distribution after adjusting for inflation, which represents the purchasing power of a typical household.
Squeeze
A financial or economic situation where resources such as money are limited, leading to pressure on individuals or families.
- Recognize the implications of income inequality and economic pressures on different social classes.
Verified Answer
Learning Objectives
- Recognize the implications of income inequality and economic pressures on different social classes.
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