The study of economic mobility discussed in the text pinpoints five factors that are correlated with economic mobility. What are those five factors and how do they affect economic mobility?
What will be an ideal response?
1. Segregation by race or income. The more segregated (by race or income) the city, the lower the associated economic mobility.
2. Family structure. A higher prevalence of single-parent households in a community is correlated with lower economic mobility.
3. School quality. Areas with higher test scores, lower dropout rates, and smaller class sizes had greater mobility.
4. Social capital. Greater religious and civic participation are positively correlated with economic mobility.
5. Economic inequality. Smaller income gaps among the middle class were associated with greater income mobility.
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In the short run when prices don't have enough time to change, the Federal Reserve
A) can influence the level of interest rates in the economy but generally will not because it would be destabilizing. B) can only affect the amount of money in the economy. C) can influence the level of interest rates in the economy. D) cannot influence the level of interest rates in the economy.
A tradable emissions permit:
A. entitles a firm to generate a specified amount of a given pollutant. B. is transferable. C. can be used to promote least-cost abatement. D. All of the responses are correct.
If a tax is levied on the sellers of flour, then
a. buyers will bear the entire burden of the tax. b. sellers will bear the entire burden of the tax. c. buyers and sellers will share the burden of the tax. d. the government will bear the entire burden of the tax.
According to researchers, there is a direct link between unemployment and:
A) characteristics of structural unemployment. B) major social problems such as high levels of education and, health services. C) inflation. D) major social problems like higher crime rates, higher rate of depression, heart disease and other illnesses.