In the United States the degree of individual income mobility (that is, the degree to which people move from higher to lower, or lower to higher, income groupings) is:
a. rigid in both directions
b. flexible in both directions.
c. flexible upward but rigid downward, since high income perpetuates itself from generation to generation.
d. flexible downward but rigid upward, since most low-income people never rise significantly above the poverty level.
b
Economics
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Whenever people's incomes increase, they buy more guitars. Hence a scatter diagram shows that the relationship between income and guitars purchased is
A) a positive relationshi
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Which statement below is true for a price taker?
A) Marginal revenue can only be positive. B) Marginal revenue can only be negative. C) Marginal revenue can only zero. D) Marginal revenue can be positive, negative, or zero.
Economics