What is the implication of the demographic transition for the labor force? Dependency ratio?
What will be an ideal response?
In early stages of the transition, population growth will be rapid, and the need to create jobs will be great, so unemployment is a danger. Later on, the dependency ratio will rise as older people become a greater percentage of the population. The implications of these changes should be spelled out.
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In the RBC model, the importance of "intertemporal substitution" of labor supply is ________, which results in a rather ________ labor supply curve
A) denied, flat B) denied, steep C) emphasized, flat D) emphasized, steep
One consequence of the asymmetric-information problem in the used car market, if left unresolved, is the higher probability of:
A. New cars being better than used-cars in quality B. A declining quality of used cars in the market C. A rising quality of used cars in the market D. Used-car buyers willing to pay higher prices