Millionaires tend to be older than the general population because
a. older workers generally have more education than younger workers.
b. many achieve millionaire status by saving from a relatively modest income, and this will take a lengthy period of time.
c. the earnings of most people peak during the retirement phase of life.
d. older people have less to do, and therefore, they have more time to come up with innovative ideas.
B
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We often observe "pseudo-intra-industry trade" between the United States and Mexico. Actually, such trade is consistent with
A) comparative advantage associated with Heckscher-Ohlin model. B) oligopolistic markets. C) optimal tariff issues. D) the Ricardian model of trade. E) the specific factors model of trade.
Which of the following contributed to the strong auto sales and soaring housing prices during 2002-2004?
a. the Fed's high-interest rate policy during the period b. the tightening of loan standards by commercial lenders c. the increasing popularity of fixed-rate, long-term loans to lock in low interest rates d. the Fed's low-interest rate policy during the period