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
You might also like to view...
The Shackled Foot Corporation is a conglomerate with four major divisions. Each division has performed poorly over the years and none has a return greater than 2 percent. Karen, who could have invested her money at 5 percent, buys the company. What does her action imply?
In a topographic map, each line represents a particular elevation above sea level, and in an indifference map each line represents a particular level of:
A. Total utility B. Marginal utility C. Income D. Demand