The age-earning cycle shows an individual typically earning
A) a constant income (adjusted for inflation) over the entire working life of the worker.
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) an income that declines until age 30-35 and then increases rapidly.
C
You might also like to view...
The demand deposit multiplier is the number by which we must multiply the
a. injection of reserves to get the total change in demand deposits b. total amount of demand deposits to get the total change in the money supply c. level of required reserves to get the total change in the money supply d. total amount of currency in circulation to find total demand deposits e. change in demand deposits to find the total change in the money supply
The table shows the aggregate demand and aggregate supply schedule for a hypothetical economy.Real Domestic Output Demanded (in Billions)Price Level (Index Value)Real Domestic Output Supplied (in Billions)$3,000350$9,0004,0003008,0005,0002507,0006,0002006,0007,0001505,0008,0001004,000Refer to the above table. The equilibrium price level and quantity of real domestic output will be:
A. 200 and $6000. B. 300 and $8000. C. 250 and $7000. D. 200 and $5000.
An increase in worker productivity
A. reduces the demand for labor. B. reduces the supply of labor. C. increases the supply of labor. D. increases the demand for labor.
A budget constraint:
A. shows different bundles of goods that all cost the same amount. B. shows different bundles of goods that all yield the same total utility. C. shows how much income is needed to maximize total utility. D. shows different bundles of goods that all maximize an individual's utility.