In the United States a college degree is generally associated with_____________?
Correct answer: A. achieved status
- A. achieved status
- B. ascribed status
- C. no status
- D. castes
Explanation
A college degree is an achieved status because it is earned through education and effort. An ascribed status is assigned at birth or involuntarily, such as age or family background.
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Individual consumers, firms and markets are examined through demand and supply, elasticity, consumer choice, production, costs, revenue and the determination of prices and output. The topic also covers market structures such as perfect competition, monopoly and oligopoly, plus market failure, externalities and the distinction between microeconomic decisions and economy-wide outcomes.
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