Income mobility is:
A. how much income is stored in offshore banks.
B. the ability to improve one's economic circumstances over time.
C. how likely the income associated with each job in the country will change in relative terms.
D. how likely the income associated with each job in the country will increase over time.
B. the ability to improve one's economic circumstances over time.
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The Beveridge curve shifted outward during what period?
A) during the Great Depression. B) during the Great Moderation. C) after January 2008. D) between January 2000 and December 2007.
The increase in world oil prices during the 1970s was
a. the result of depletion of world reserves of oil. b. artificially created by OPEC. c. the result of extremely high growth rates in industrialized countries. d. fully reversed by 1982.
Consider two goods: peanuts and crackers. The slope of the consumer's budget constraint is measured by the
a. consumer's income divided by the price of crackers. b. relative price of peanuts and crackers. c. consumer's marginal rate of substitution. d. number of peanuts purchased divided by the number of crackers purchased.
Any combination of goods that can be produced with currently available resources is an:
A. inefficient point. B. attainable point. C. efficient point. D. attainable and efficient point.