What Is the Difference Between the Static Labour Supply Framework

question 12

Multiple Choice

What is the difference between the static labour supply framework and the dynamic one?

• A) The static framework refers only to the individual's labour supply choices, while for the dynamic framework the spouse's decisions are taken into account.
• B) The static framework refers to the short run, while the dynamic one refers to the long-run.
• C) Events in one time period can have repercussions for labour supply choices in another time period in the dynamic framework but not in the static framework.
• D) The static framework refers to the long run, while the dynamic one refers to the short run.
• E) The dynamic framework pertains to the present time frame, while the static framework pertains to the entire life-cycle

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