Suppose that the "Millennial" generation values leisure more than past generations. We can expect a decrease in the labor supply as the Millennials enter their prime working ages and a corresponding decrease in wages
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
To reassure investors who were unwilling to buy mortgages in the secondary market, the U.S. Congress used two government sponsored enterprises, ________, to sell bonds to investors and use the funds to purchase mortgages from banks
A) the Securities and Exchange Commission (SEC) and the Federal Trade Commission (FTC) B) ACORN and the Federal Housing Administration (FHA) C) Fannie Mae and Freddie Mac D) the Fed and the Treasury Department
Capital rationing refers to
A) setting a minimum acceptable rate of return for a capital outlay. B) selecting among profitable capital outlays when there are constraints on the funds available. C) determining the maximum price to pay for a capital product. D) None of the above
In the case of Alan Bakke, the courts ruled that preferential admissions (rigid quotas) were acceptable
Indicate whether the statement is true or false
Assume that a firm is operating in the short run and all resources are fixed except for labor. The total product curve for this firm will increase at a decreasing rate because:
a. value of marginal product of labor is unchanged as more labor is hired. b. marginal product of labor will decline as more labor is hired. c. value of marginal product of labor will increase as more labor is hired. d. marginal product of labor is unchanged as more labor is hired.