__________ Mobility Refers to the Change in Social Class Position

question 4

Short Answer

__________ mobility refers to the change in social class position that takes place between generations (e.g. parent to child).

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Definitions:

Federal Reserve

The central banking system of the United States, responsible for implementing the country's monetary policy.

Consumer Spending

The aggregate spending of families within an economy on goods and services.

45-Degree Line

A reference line in economics, usually on a graph, where all points along the line indicate where the values for the variables on the axes are equal.

Consumer Dollar

The purchasing power of a consumer's money, indicating the quantity of goods and services it can buy.