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Chapter 30: Problem 31

Which statement is true? (LO2) a) All of the 10 richest Americans inherited their fortunes. b) In order to make the top ten list of American billionaires, you need a fortune of over \(\$ 15\) billion. c) The two richest families in the United States today are the Rockefellers and the Fords. d) Most of the 10 richest Americans own large manufacturing companies.

Short Answer

Expert verified
After investigating each statement and consulting reliable sources, it has been found that statement (b) is true. In order to make the top ten list of American billionaires, you need a fortune of over \(\$ 15\) billion.

Step by step solution

01

First, read the four statements provided and make sure to understand what each of them are trying to convey. This will help us when we look for information to verify or disprove each of them. #Step 2: Investigate Statement (a)#

Statement (a) says that all of the 10 richest Americans inherited their fortunes. Check reliable sources such as Forbes magazine's list of richest Americans or credible news articles to see if all the top 10 richest Americans inherited their fortunes. If this claim turns out to be false, we will eliminate this statement as a possible correct answer. If true, keep it as an option. #Step 3: Investigate Statement (b)#
02

Statement (b) states that in order to make the top ten list of American billionaires, you need a fortune of over \(\$ 15\) billion. Check Forbes magazine's list of richest Americans or credible news sources to confirm the ranking of American billionaires. If the claim is true and accurate, keep it as an option. If it is false, eliminate it as a possible correct answer. #Step 4: Investigate Statement (c)#

Statement (c) declares that the two richest families in the United States today are the Rockefellers and the Fords. Look for reputable sources to check the wealthiest families in the United States, such as Forbes or other credible publications, to see if the Rockefellers and the Fords are the two richest families in the U.S. If this statement turns out to be false, eliminate it as a possible correct answer. If it is true, keep it as an option. #Step 5: Investigate Statement (d)#
03

Statement (d) claims that most of the 10 richest Americans own large manufacturing companies. Check reliable sources such as Forbes magazine's list of richest Americans or credible news articles to verify if most of the top 10 richest Americans own large manufacturing companies. If this claim turns out to be false, eliminate this statement as a possible correct answer. If it is true, keep it as an option. #Step 6: Determine the true statement#

After investigating each statement, eliminate any statements that have been found to be false. Among the remaining options, determine the statement that is true, thus providing the answer to the exercise.

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Most popular questions from this chapter

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