Which of the following is true?
a. With time, most of those with low incomes at a point in time move up the income ladder only to be replaced by others who are youthful, inexperienced, or the victim of current misfortune.
b. Recent studies indicate that there is virtually no relationship between the relative income position of grandparents and their grandchildren.
c. Both a and b are true.
d. Neither a nor b is true.
C
You might also like to view...
Comparing the cases of Brazil and Kerala, how would you characterize their different approaches to achieving economic development?
What will be an ideal response?
All of the following might create problems from financial liberalization in emerging countries EXCEPT
A) ineffective screening of borrowers. B) limits on risk-taking. C) lax government supervision of banks. D) lenders failure to monitor borrowers.
An asset that can easily be exchanged for goods and services is referred to as:
a. an intangible asset. b. a productive resource. c. a liquid asset. d. a fixed asset. e. a scarce resource.
To the extent that a governmental price control succeeds in affecting price, it can be expected to lead to a corresponding: a. reduction in the volume of sales only if the price is forced down
b. reduction in the volume of sales if the price is forced down and an increase in the volume of sales if the price is forced up. c. decrease in the volume of sales whether the price is forced up or down. d. increase in the volume of sales whether the price is forced up or down.