This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: In the United States the degree of individual income mobility (that is, the degree to which people ... (Read 116 times)

bcretired

  • Hero Member
  • *****
  • Posts: 525
on: Jun 30, 2018
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.

Question 2

If wage falls below the rate determined by the market equilibrium, in which direction will it move and why?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

sultansheikh

  • Sr. Member
  • ****
  • Posts: 335
Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

When the wage rate falls below the equilibrium rate, it creates an excess demand for labor which will push the wage back toward the equilibrium.


bcretired

  • Hero Member
  • *****
  • Posts: 525
Reply #2 on: Jun 30, 2018
Thank you :)


sultansheikh

  • Sr. Member
  • ****
  • Posts: 335
Reply #3 on: Jun 30, 2018
Happy to help you


« previous next »
 

Did you know?

Atropine was named after the Greek goddess Atropos, the oldest and ugliest of the three sisters known as the Fates, who controlled the destiny of men.

Did you know?

Coca-Cola originally used coca leaves and caffeine from the African kola nut. It was advertised as a therapeutic agent and "pickerupper." Eventually, its formulation was changed, and the coca leaves were removed because of the effects of regulation on cocaine-related products.

Did you know?

Colchicine is a highly poisonous alkaloid originally extracted from a type of saffron plant that is used mainly to treat gout.

Did you know?

Opium has influenced much of the world's most popular literature. The following authors were all opium users, of varying degrees: Lewis Carroll, Charles, Dickens, Arthur Conan Doyle, and Oscar Wilde.

Did you know?

In 2012, nearly 24 milliion Americans, aged 12 and older, had abused an illicit drug, according to the National Institute on Drug Abuse (NIDA).

A feral horse herd in the western United States A feral horse herd in the western United States
Leading Sites of New Cases of Cancer in the United States, 2013 Leading Sites of New Cases of Cancer in the United States, 2013
American people aren't the only ones getting bigger—American pets are also putting on pounds American people aren't the only ones getting bigger—American pets are also putting on pounds
Societal pressure to be thin can cause people to feel fat Societal pressure to be thin can cause people to feel fat
The Location and Number of Farms in the United States, 2012 The Location and Number of Farms in the United States, 2012
Relationship between Income and Happiness in the United States Relationship between Income and Happiness in the United States
Video: Labor and Childbirth - The Three Stages of Labor: Dilation, Expulsion & Placental مراحل الولادة

For a complete list of videos, visit our video library