The life cycle effect characterizes a lifetime income profile in which income
a. tends to follow a seasonal pattern.
b. rises as a worker gains maturity and experience.
c. rises and falls in conjunction with the business cycle.
d. falls during the early years of market activity and peaks at retirement.
b
Economics
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Public elementary and high school education in the United States is provided
A) as a free good. B) as a subsidized good. C) at the market clearing price. D) in an amount less than the equilibrium quantity.
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Only government restrictions serve as entry barriers
a. True b. False Indicate whether the statement is true or false
Economics