Although estimates vary, it is suggested that 80% or more of the job openings that exist are in the hidden job market. what is the difference between the published job market and the hidden job market? what techniques would you usually use to access the published job market? what techniques would you use to access the hidden job market? and, if you are already a professional in your field and do not intend on seeking a different opportunity within the next 5 years, how might being aware of the hidden job market be of value to you? additionally, many of you may be in a position to hire employees (or will be in the future). that noted, how might knowing about the hidden job market impact your strategy to recruit and hire qualified candidates?

3. saving two consumers, larry and jeff, have utility functions defined over the two periods of their lives: middle age (period zero) and retirement (period 1). they have the same income in period 0 of m dollars and they will not earn income in period 1. the interest rate they face is r. larry’s and jeff’s utility functions are as follow. = 0.5 + 0.5 and = 0.5 + 0.5 for each person is between zero and one and represents each consumer’s temporal discount econ 340: intermediate microeconomics. ben van kammen: purdue university. rate. a. write the budget constraint that applies to both jeff and larry in terms of consumption in each period and ), interest rate, and m. b. what is larry’s and what is jeff’s marginal rate of intertemporal substitution? c. what is the slope of the budget constraint? d. write each consumer’s condition for lifetime utility maximization. e. re-arrange the conditions from part (d) to solve for the ratio, . f. if > which consumer will save more of his middle age income? g. if > 1 1+ , in which period will larry consume more: = 0 or = 1?