Exam 12: Income and Social Class

The ability of a person to pass from one social class to another is called ________.

________ refers to the passage of individuals from one social class to another.

Blue-collar workers with relatively high-prestige jobs consider themselves as ________.

The wealthiest 160,000 U.S. families are considered one percenters.

Which of the following phrases is the best illustration of homogamy?

________ are consumers who refuse to sacrifice style, but they achieve on a budget.

Luminaries from Amazon, Google, and Twitter tend to use ________.

Define discretionary income.

________ describes consumers in terms of their aesthetic and intellectual preferences.

Although there are many differences between social classes, almost all these differences can be summarized by the differences that income makes in a person's life.

Education is one determining factor in future income.

An economy that is driven by a fairly small number of rich people is called a plutonomy.

A middle class person with an income at least 15 percent lower than the median middle class income, would be considered a(n) ________ consumer.

Money available to a household over and above what is required to have a comfortable standard of living is called ________.

When a Rolls-Royce, a Cartier diamond, and an Andy Warhol painting are bought and displayed as markers of social class, they are ________.

Of the countries listed below, which is thought to be highly status-conscious?

________ measures how optimistic or pessimistic people are about the future health of the economy and how they will fair in the future.

List the 6 social classes.

Discretionary income is the money available to a household over and above that required for a comfortable standard of living.

All of the following are important components of social class except for ________.