Millionaires tend to be older than the general population because
a. the earnings of most people peak during the retirement phase of life.
b. older workers generally have more education than younger workers.
c. many achieve millionaire status by saving from a relatively modest income, and this will take a lengthy period of time.
d. older people have less to do, and therefore, they have more time to come up with innovative ideas
c. many achieve millionaire status by saving from a relatively modest income, and this will take a lengthy period of time.
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According to the Application, people in Morocco bring meteorites picked up in the desert to local dealers, who then sell them to the public through Websites
If the Moroccan government decided to intervene in this market by requiring all meteorites be turned over to the government, and then the government decides who is allowed to purchase the meteorites and at what prices, this best describes an example of A) a market system. B) a barter economy. C) comparative advantage. D) central planning.
Something is a normal good if
A) the demand for it decreases when its price rises. B) the demand for it decreases when its price falls. C) the demand for it increases when income rises. D) the demand for it increases when income falls.
A permanent increase in a country's money supply
A) causes a more than proportional increase in its price level. B) causes a less than proportional increase in its price level. C) causes a proportional increase in its price level. D) leaves its price level constant in long-run equilibrium. E) causes an inversely proportional fall in its price level.
Saving is like:
A. selling the right to use your money for a time. B. buying the right to use someone else's money. C. selling the right to use someone else's money. D. buying the right to use your money for a time.