Which of the following is true?
A) With time, most of those with low incomes at a point in time move up the income ladder only to be replaced by others who are youthful, inexperienced, or the victim of current misfortune.
B) Recent studies indicate that there is virtually no relationship between the relative income position of grandparents and their grandchildren.
C) Both a and b are true.
D) Neither a nor b is true.

Question

Quizplus · Accepted Answer

Both statements are generally supported by economic research. A) reflects the concept of income mobility, where individuals can move up the income ladder over time. B) suggests that intergenerational income mobility is high, meaning grandparents' income does not strongly determine grandchildren's income.

Which of the Following Is True