One is ________ likely to invest in human capital the ________ the person's rate of time preference

The short-run refers to a period

a. of a few days. b. when prices and wages cannot fully adjust. c. of a few years. d. during which trend cannot change. e. of analysis used in the classical model

Refer to Figure 14.3. To maximize total wages paid to workers, the labor union will agree to wage rate:

A) W0. B) W1. C) W2. D) W3. E) none of the above