Changes in interest rates cause the same rotations of intertemporal budget lines regardless of whether you are a borrower or a saver.
Answer the following statement true (T) or false (F)
False
Rationale: While it is true that the slopes of the intertemporal budgets will be the same for borrowers and savers (if they face the same interest rates), a change in the interest rate causes a rotation through the endowment on the horizontal axis for a saver and through the endowment on the vertical axis for the borrower.
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The "no shirking constraint" (NSC) curve is
A) downward-sloping to reflect the fact that at higher wages, firms will monitor workers more to see whether they are shirking. B) downward-sloping to reflect the fact that shirking tends to be higher in lower-paying industries. C) upward-sloping because at high levels of unemployment, workers will refrain from slacking without much other incentive. D) upward-sloping because at high levels of employment, many "slacking" individuals have been hired. E) vertical because the constraint represents the absolute amount of time a firm will tolerate workers' slacking without laying them off.
Efficiency is defined as minimizing waste
a. True b. False Indicate whether the statement is true or false
Which of the following decreases in labor demand is due to a change in the price of a related resource?
A. A decline in the demand for computers in Europe reduces the demand for workers in the domestic computer industry. B. The rise of hair salons for both men and women reduces the demand for barbers. C. A decrease in the educational skills of manufacturing workers decreases the demand for such workers. D. An increase in the price of chemical equipment increases the cost of producing fertilizer, thus decreasing the demand for workers who make fertilizer.
As of 2015, ________ of U.S. adults aged 25-29 had at least a bachelor's degree.
A. 8.2% B. 13% C. just over 50% D. 35.6%