State whether each of the following six propositions is true orfalse. In 2-3 sentences, explain why.

State whether each of the following six propositions is true orfalse. In 2-3 sentences, explain why. Use diagrams if helpful. a. Suppose the government passes a law requiring“profit-sharing”; every year, firms must give at least 50% of theirprofits to their workers. T, F, and Explain: As long as wages are flexible, wageswill fall, leaving workers’ well-being unchanged. b. T, F, and Explain: With a volunteer army, wars arebad for taxpayers. With conscription, wars are bad forsoldiers. c. Suppose workers under-invest in education because of creditmarket imperfections. T, F, and Explain: No-interest education loans are themost efficient government response. d. Suppose native-born Americans and immigrants have exactly thesame skills. T, F, and Explain: Immigration will reduce Americans’average standard of living. e T, F, and Explain: If wages can’t adjust, increasingthe strictness of safety regulations will reduceemployment. 6. The Internet makes it easier for people to learn aboutemployers’ reputations. T, F, and Explain: This makes firms less willing totemporarily overpay inexperienced workers. f. IQ tests are a good predictor of job performance. T, F, and Explain: If IQ tests were culturally biasedagainst immigrants, immigrants would have lower job performancethan natives with the same IQ. . . .

 

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