Economic variables that generally turn down after a recession begins and turn back up after the recovery starts are called:

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.

Other things remaining same, a right shift in the demand curve will lead to:

A) a decrease in the equilibrium price and the equilibrium quantity. B) a decrease in the equilibrium price and an increase in the equilibrium quantity. C) an increase in the equilibrium price and the equilibrium quantity. D) an increase in the equilibrium price and a decrease in the equilibrium quantity.