Although We Usually Think of Social Mobility as a Result

question 74

Multiple Choice

Although we usually think of social mobility as a result of individual effort,during the "dot-com boom" of the late 1990s,many people became instant millionaires.This is an example of:

• A) structural mobility.
• B) wise investing.
• C) savvy technological genius.
• D) horizontal mobility.

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Definitions:

Inflation Rate

The escalation in overall prices for goods and services, leading to a drop in how much can be bought.

Annual

Relating to or denoting a period of one year.

Nominal Rate

The stated interest rate of a financial product, not adjusted for inflation, representing the face value of interest payments.

Real Rate

The interest rate adjusted for inflation, reflecting the true cost of borrowing or the true yield on an investment.