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We often hear that the United States is a "middle-class" society.  Where does this idea come from, and how true is this claim?  Explain.  From 1970 to 2005, average U.S. family income rose 20%, however, during the same period, CEO income increased 2,800%.  Do American CEOs work that much harder than the average American?  Explain.

We often hear that the United States is a "middle-class" society.  Where does this idea come from, and how true is this claim?  Explain.  From 1970 to 2005, average U.S. family income rose 20%, however, during the same period, CEO income increased 2,800%.  Do American CEOs work that much harder than the average American?  Explain.

Social Psychology (10th Edition)
Social Psychology (10th Edition)
10th Edition
ISBN:9780134641287
Author:Elliot Aronson, Timothy D. Wilson, Robin M. Akert, Samuel R. Sommers
Publisher:Elliot Aronson, Timothy D. Wilson, Robin M. Akert, Samuel R. Sommers
Chapter1: Introducing Social Psychology
Section: Chapter Questions
Problem 1RQ1
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We often hear that the United States is a "middle-class" society.  Where does this idea come from, and how true is this claim?  Explain. 

From 1970 to 2005, average U.S. family income rose 20%, however, during the same period, CEO income increased 2,800%.  Do American CEOs work that much harder than the average American?  Explain.

CEOS make 278 times more than typical workers CEO-to-worker compensation ratio, 1965–2018 500 CEO-to-worker compensation ratio based on options realized CEO-to-worker compensation ratio based on options granted 400 386.4 368.1 345.9 300 278.1 241.1 200 221.0 100 581 31.6 19.9 15.5 45.1 24.5 1970 1980 1990 2000 2010 2020
Transcribed Image Text:CEOS make 278 times more than typical workers CEO-to-worker compensation ratio, 1965–2018 500 CEO-to-worker compensation ratio based on options realized CEO-to-worker compensation ratio based on options granted 400 386.4 368.1 345.9 300 278.1 241.1 200 221.0 100 581 31.6 19.9 15.5 45.1 24.5 1970 1980 1990 2000 2010 2020
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