If substantial income mobility is present, then there is considerable movement of individuals up and down the income ladder over time

If the price of gasoline were $5, many people would stop buying gasoline while others would continue to do so. This would indicate

A) those who are buying gasoline value it at least $5 per gallon. B) those who are not buying gasoline value it more than $5 per gallon. C) only those who are extremely wealthy are buying gasoline. D) the price of gasoline needs to be regulated by the Federal Government.

Suppose the balance on the financial account is +$200 billion and the balance on the capital account is +$2 billion. The size of the current account is:

A. +$200 billion. B. -$202 billion. C. -$198 billion. D. +$2 billion.