Economists who study economic mobility have found that, if a father earns 20 percent above his generation's average income, his son will most likely earn
a. an income equal to his generation's average income.
b. 8 percent above his generation's average income.
c. 5 percent below his generation's average income.
d. 3 percent above his generation's average income.
b
Economics
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What does it mean to say economics is an empirical science, and how is this related to the question of deciding on the usefulness of a model?
What will be an ideal response?
Economics
Borrowing in foreign currencies to spend or invest domestically,
a. decreases demand for the domestic currency, appreciating the domestic currency b. increases demand for the domestic currency, depreciating the domestic currency c. increases demand for the domestic currency, appreciating the domestic currency d. does not affect the exchange rates
Economics