Wealth and income are both important determinants of social class.Which of the following best characterizes the relationship between wealth and income in the United States?

Question

Quizplus · Accepted Answer

The statement "The same factors that limit people's incomes also limit their ability to accumulate wealth" is the most accurate description of the relationship between wealth and income in the United States. This is because factors such as education, job opportunities, and discrimination can limit both income and wealth accumulation. While there has been an increase in income disparities between the rich and the poor in the past three decades, wealth disparities have also increased during the same period, making option A incorrect. Option B is false, as many wealthy people accumulate their wealth through investments or entrepreneurship, rather than solely inheriting it. Option D is incorrect, as both income and wealth are influenced by factors such as education and age. Finally, option E is incorrect, as race, education, and age are all known to influence income and wealth in the United States.

Wealth and Income Are Both Important Determinants of Social Class