Suppose the Data Show That Each Year Between 1964 and 2019

question 36

Multiple Choice

Suppose the data show that each year between 1964 and 2019, 10 percent of all income earners (in the United States) earned a low enough income to be considered poor. It follows that

• A)the person who was part of the 10 percent poor in 1964 was also part of the 10 percent poor in 2019.
• B)the person who was part of the 10 percent poor in 1964 may or may not be part of the 10 percent poor in 2019.
• C)there is no upward income mobility in the United States.
• D)the income distribution in the United States (during this period of time)was equal.

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Definitions:

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A formal process by which an individual or organization is recognized for meeting specific standards or qualifications.

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Educational courses designed to train and assess individuals' expertise in a specific field, leading to certification.

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A trained professional who assists lawyers in researching, preparing legal documents, and other tasks, operating under the supervision of an attorney.

Loss Aversion

Tendency for individuals to prefer avoiding losses over acquiring gains.