If a Large Number of People Decide to Major in Economics,the

question 19

True/False

If a large number of people decide to major in economics,the supply and demand model has little to say about the future wages of economists.

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Definitions:

Explanatory

Pertaining to a variable in a statistical model that is used to explain or predict changes in a response variable.

Response

In statistics, the answer or reaction to some stimulus or experiment; in communication, it's the reply or reaction to a message or question.

Air Pressure

The force exerted onto a surface by the weight of the air above that surface in the atmosphere of Earth.

Altitude

The height of an object or point in relation to sea level or ground level.