Which of the following statements is true regarding the relationship of education to income?
a. education is not related to income.
b. the more education you have, the higher your income will be.
c. the less education you have, the higher your income will be.
d. most people will not need high levels of education for the jobs of the future.

Adrawback of short-term contracting as an alternative to making a component in-house is thata. it is the most-integrated alternative to performing an activity so the principal company has no control over the agent. b. the supplying firm has no incentive to make any transaction-specific investments to increase performance or quality. c. it fails to allow a long planning period that individual market transactions provide. d. the buying firm cannot demand lower prices due to the lack of a competitive bidding process.