Given the Model Income = 10,000 + 1,000YearsofExperience + 100YearsofExperience²

question 6

Multiple Choice

Given the model Income = 10,000 + 1,000YearsofExperience + 100YearsofExperience², a one year increase in years of experience from 10 years is expected to lead to a:

• A) 1,100 increase in income
• B) 1,000 increase in income
• C) 3,000 increase in income
• D) 11,100 increase in income

---

Definitions:

Personal Property

Tangible and intangible assets owned by an individual or business that are not permanently attached to or part of real estate.

Tangible

Objects or assets that have a physical form and can be touched, as opposed to intangible assets like intellectual property.

Bills of Lading

Official documents issued by a carrier to acknowledge receipt of cargo for shipment, detailing the terms of the carriage.

Negotiable

Capable of being bought, sold, or transferred to another party through endorsement or delivery.