Certain Professions Limit the Number of Students Who Are Eligible

question 23

Multiple Choice

Certain professions limit the number of students who are eligible to enroll in their programs in university - engineering,architecture,dentistry,and law,for example.What is the predicted effect of such a policy in each of these professions?

• A)An increase in supply and a wage that is lower than it otherwise would be.
• B)A reduction in supply and a wage that is lower than it otherwise would be.
• C)An increase in supply and a wage that is higher than it otherwise would be.
• D)A reduction in supply and a wage that is higher than it otherwise would be.
• E)These professions are a relatively small portion of the labour market and so there will be no detectible change in wages.

Differentiate between positive, negative, and no linear relationship in data.

Recognize and define dependent and independent variables in a bi-variable relationship.

Explain the graphical representation of interval variables relationships.

Describe features that indicate a strong or weak linear relationship in scatter diagrams.

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Definitions:

Intangible Asset

An asset that lacks physical substance and is not financial in nature, such as patents, trademarks, and goodwill.

Preferred Stockholders

Investors who own shares of preferred stock in a company, typically entitled to dividends before common stockholders and having priority in assets upon liquidation.

Board Of Directors

A group of individuals elected by shareholders to oversee and make strategic decisions for a corporation.

Treasury Stock

Shares that were issued and later reacquired by the issuing company, reducing the amount of outstanding stock on the open market.