State whether each of the following Statements is Tue or False. Provide reasons too.

1. The management resistance hypothesis and the substitution hypothesis partly explain the recent global decline in unionization

2. Individuals with higher discount rates will choose more years of schooling and earn higher wages than those with lower discount rates.

3. The basic human capital model predicts that the earnings' distribution will eventually be symmetric

4. The theory of efficiency wages suggests that wage differentials exist because firms with higher costs of detecting shirking pay higher than average wages.