Refer to the scenario above. Which of the following statements is true about the model's prediction?
A) The prediction can be applied to estimate the returns only for a limited number of years of additional education.
B) The prediction is an approximate relationship and may not hold for everyone.
C) The prediction cannot be verified empirically.
D) The prediction is precise, exact, and accurate for the entire population.
B
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The economic incentive for price discrimination is based upon:
A. Prejudices of business managers B. Differences among sellers' costs C. A desire to evade antitrust legislation D. Differences among buyers' elasticities of demand
According to the textbook, Manning and his colleagues found that people with $1,000-deductible policies spent ______ on health care relative to people with first-dollar coverage.
A. 50 percent more B. the same amount C. 40 percent more D. less