The Same Households Do Not Necessarily Remain Rich or Poor

question 145

Multiple Choice

The same households do not necessarily remain rich or poor over time because _____

• A)the normal life cycle pattern of income changes over time.
• B)the productivity of workers varies with on-the-job training.
• C)an economy experiences fluctuations in the level of economic activities.
• D)an economy experiences changes in inflation rates over time.
• E)technological changes influence the income earned by workers.

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Definitions:

Nominal

Denotes categories without numerical importance, used to describe data that represents names or labels.

Ordinal

Pertaining to a type of data or scale that shows an order or rank among values, where the intervals between values are not necessarily consistent.

Pie Chart

A pie chart is a circular graph divided into sectors, each representing a proportion of the total. It is used to visualize the relative sizes of parts of a whole.

Frequency

In statistics, it refers to the count of how often each value of a set of data occurs; in waves, it refers to the number of occurrences of a repeating event per unit of time.