If Arnold has a positive rate of time preference, he desires to
a. save in case of inflation
b. consume now rather than later
c. invest in stocks and bonds
d. invest in education
e. plan for retirement
B
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The figure given below represents the effects in the labor markets due to migration. Here the world has been divided into a high-income "North" (left panel) and a low-income "South" (right panel). Dn and Sn are the labor demand and the labor supply curves in North. Ds and (Sr + Smig) are the labor demand and pre-migration labor supply curves in South. Sr is the post-migration labor supply curve in South. The value c is the cost of migrating.
After migration of the workers, the workers in North earn ________ per hour and South workers earn ________ per hour.
A. $6.75; $3.00 B. $8.00; $3.00 C. $8.00; $4.25 D. $6.75; $4.25
Market systems can be evaluated as efficient or inefficient, but not as fair or unfair.
Answer the following statement true (T) or false (F)