Question

1. the total value of money and other assets, minus outstanding debts, is a persons: (1 point) a) income b) wealth c) net pay d) savings 9. which of the following is an example of downward social mobility? (1 point) a) a plumber whose father was a physician. b) an executive who is laid off and takes a job as a retail clerk. c) a college graduate who gets an entry - level position at a company. d) a factory worker who receives a promotion.

Explanation:

For question 8, wealth is defined as the total value of money and other assets minus outstanding debts. Income is earnings from work or investments, net - pay is take - home pay after deductions, and savings are money set aside from income.
For question 9, downward social mobility is a decrease in social status. An executive has a higher social status than a retail clerk. A plumber whose father was a physician may not necessarily represent downward mobility in all cases as plumbing can be a well - paying profession. A college graduate getting an entry - level position is normal career start, and a factory worker getting a promotion is upward mobility.

Answer:

1. B. Wealth
2. B. An executive who is laid off and takes a job as a retail clerk.