Refer to the scenario above. The hypothesis of the model is that:
A) college graduates will earn 80 percent more than high school graduates.
B) college graduates will earn 200 percent more than high school graduates.
C) college graduates will earn 107 percent more than high school graduates.
D) college graduates will earn 275 percent more than high school graduates.
C
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A monopsonist whose workers have unionized hires the same number of workers as if they had not unionized
Indicate whether the statement is true or false
It is true that the distribution process carried out by the price system
a. accomplishes the task more efficiently than central planners would. b. favors the rich. c. is superior to other rationing mechanisms because it is able to pay attention to individual consumer preferences. d. All of the above are true.