If we compare income mobility in absolute terms, we would measure whether a person's income:
A. is higher than her parents' income.
B. places her higher up in the income distribution than her parents' income.
C. is higher at the end of her career compared to the beginning.
D. places her higher up in the income distribution over the course of her work-life.
A. is higher than her parents' income.
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The dominant school of economic thought from the late 19th century until the Great Depression of the 1930s was
a. classical b. Keynesian c. monetarism d. supply-side e. rational expectations Indicate whether the statement is true or false
If personal taxes are cut temporarily, the resulting
a. increase in personal saving would be larger than if they were cut permanently. b. decrease in personal saving would be larger than if they were cut permanently. c. decrease in personal saving would be smaller than if they were cut permanently. d. increase in personal saving would be smaller than if they were cut permanently.
The imposition of a binding price ceiling on a market causes
a. quantity demanded to be greater than quantity supplied. b. quantity demanded to be less than quantity supplied. c. quantity demanded to be equal to quantity supplied. d. the price of the good to be greater than its equilibrium price.
The circular flow model shows the relationships between
A. government and business firms. B. government and households. C. households and business firms.