Refer to the scenario above. Which of the followings statements is true of the model?
A) According to the model two additional years of education will increase an individual's future wages 1.20 times.
B) The predictions of this model can be verified empirically.
C) According to the model two additional years of education will increase an individual's future wages 2.98 times.
D) The predictions of this model can only be applied for a limited number of years of additional education.
B
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Among the distinguishing characteristics of different types of markets are
a. the number of firms in an industry. b. the presence or absence of product differentiation. c. the ability of any or all firms in an industry to influence market price. d. All of these.
Dante has two possible routes to travel on a business trip. One is more direct but more exhausting, taking one day but with a probability of business success of 1/4. The second takes three days, but has a probability of success of 2/3
If the value of Dante's time is $1000/day, the value of the business success is $12,000, and Dante is risk neutral, A) it doesn't matter which path he takes, because he doesn't consider risk. B) he should take the 1-day trip, because he doesn't consider risk. C) he should take the 1-day trip, because $11,000 is greater than $9,000. D) he should take the 3-day trip, because it will increase his expected net revenue by $3,000. E) he should take the 3-day trip, because it will increase his expected net revenue by $5,000.
When something is indexed:
A. its value is automatically adjusted in proportion to the cost of living. B. its real value is converted into nominal terms for comparison. C. it is expressed as nominal value multiplied by price index. D. its relative rank in consumption items is compensated for relative to its cost.
The unemployment rate is
What will be an ideal response?