The age-earning cycle shows an individual typically earning
A. an income that declines until age 30-35 and then increases rapidly.
B. an income that cycles upward and downward as an individual ages.
C. an income that increases with age, peaks, and then falls as retirement approaches.
D. a constant income (adjusted for inflation) over the entire working life of the worker.
Answer: C
You might also like to view...
Water is considered a necessity. So, is the demand for water elastic or inelastic?
What will be an ideal response?
The number of units of developing country currency required to purchase a basket of goods and services in a developing country that costs one dollar in the U.S. is given by
a. GNI price deflator. b. Human Development Index ranking. c. purchasing power parity. d. the exchange rate.
Many economists describe the 2007-2009 period in the United States as being a condition of a(n)
a. deflationary gap. b. recessionary gap. c. inflationary gap. d. reflationary gap.
A valid and useful theory of gold prices:
A. very likely includes as many details as possible about gold prices. B. helps to explain and predict the movements of gold prices over time. C. all of the above D. very likely relies on complex assumptions.