Evaluate the Following Statement: Intergenerational Mobility Is Essentially a Middle-Class

question 7

Multiple Choice

Evaluate the following statement: Intergenerational mobility is essentially a middle-class phenomenon.

• A) This is true as intergenerational mobility at the top and bottom of the economic hierarchy remains fairly restricted.
• B) Intergenerational mobility in income has declined since 1980, which suggests that all socioeconomic classes are becoming more caste-like.
• C) With jobs programs and affirmative action, this is not true for Blacks and Hispanics.
• D) This is not true. Trust fund children are not replenishing family wealth. That and taxation are already seeing downward mobility among members of the upper strata.

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Definitions:

Notes Payable Account

A notes payable account is a liability account on a company's balance sheet representing amounts the company owes under written promissory notes.

Annual Payments

Annual payments refer to the amount paid every year, either as an obligation, such as a subscription, or as part of a financial arrangement like a loan.

Interest Rate

The amount charged by a lender to a borrower for the use of assets, expressed as a percentage of the principal.

Straight-Line Method

A depreciation technique that allocates an equal amount of depreciation each year over the asset's useful life.