The wage-schooling locus is
A. downward sloping because education is generally productive.
B. upward sloping because education is generally productive.
C. horizontal because wages are unrelated to schooling.
D. backward bending.
E. vertical because education is a public good.
Answer: B
Economics
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The three largest firms in an industry have market shares of 40 percent, 30 percent, and 2 percent. The remaining 47 firms in the industry each have a market share of 1 percent. The Herfindahl-Hirschman Index (HHI) for this industry is
A) 2,551. B) 5,184. C) 24,061. D) 10,000. E) 3,013.
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Refer to the scenario above. What is the value of having the extended warranty during the second year of ownership?
A) $16.52 B) $24.79 C) $40 D) $48.75
Economics