Refer to the scenario above. Which of the following statements is true of the model?
A) The model predicts that two additional years of education is likely to increase future earnings by 60 percent.
B) The prediction of the model can be applied to unlimited years of additional education.
C) The predictions of this model cannot be tested empirically.
D) The prediction of the model is accurate and will hold for all individuals.
B
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Which statement is false?
A. A monopoly is both a firm and an industry. B. A monopoly is an imperfect competitor. C. There are monopolies in the United States at the regional and local levels. D. None of these statements are false.
Stagflation refers to a situation in which the economy is experiencing:
A. high economic growth and high inflation. B. low economic growth and high inflation. C. high economic growth and low inflation. D. low economic growth and low inflation.
What would be a way for the Federal Reserve to slow down the economy when it is growing too quickly or is inflationary?
A. print more money B. buy back government bonds on the open market C. sell more government bonds D. encourage the stock market
After being introduced in 1999, the euro
A. increased in value through 2008. B. decreased in value through 2008. C. increased in value through 2000 but then decreased in value through 2008. D. decreased in value through 2000 but then increased in value through 2008.