Refer to the scenario above. Which of the following statements is true about the model?
A) The model is not based on any assumption.
B) The predictions of the model will hold for every individual.
C) The model describes the economic payoff of more education.
D) The model can be applied for maximum 10 years of additional education.
C
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The financial crisis of 2008 was triggered by:
A. a speculative bubble in the U.S. housing market. B. austerity measures introduced by the U.S. government to reduce the federal deficit. C. increased trade with China. D. the economic integration of the European Union.
The real purpose of the Webb-Pomerene Act of 1918 was to alter the terms of trade in favor of the United States
Indicate whether the statement is true or false
If two perfectly competitive firms produce the same quantity at the market price, then, at that quantity, they must have the same
a. marginal cost and average total cost b. marginal cost and average fixed cost c. average total cost and average fixed cost d. average fixed cost and average variable cost e. marginal cost
United States Government Source of Funds and Outlays, Fiscal 2011
What will be an ideal response?