Older Workers Are

question 73

Multiple Choice

Older workers are

• A) much more likely to migrate than younger workers because older workers have lower moving costs.
• B) much less likely to migrate than younger workers because older workers are more likely to have children at home.
• C) much more likely to migrate than younger workers because older have lower implicit costs of migrating.
• D) much more likely to migrate than younger workers because younger workers have stronger roots and ties to the local community.

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Definitions:

Communism

A political and economic ideology advocating for a classless society in which the means of production are owned collectively.

Market Economy

An economic system where economic decisions and the pricing of goods and services are guided solely by the aggregate interactions of a country's citizens and businesses with minimal government intervention.

Command System

A method of organizing an economy in which property resources are publicly owned and government uses central economic planning to direct and coordinate economic activities; socialism; communism. Compare with market system.

Laissez-faire Capitalism

An economic system where government intervention in business and markets is minimal, and the forces of supply and demand are allowed to regulate the economy.