Final answer:
The claim that yield curves change very little in the short run is false because yield curves can shift significantly in response to changes in economic conditions or monetary policy, unlike labor supply curves which tend to be more stable in the short term.
Step-by-step explanation:
The statement that yield curves change very little in the short run, such as over three months, is false. Yield curves can indeed shift substantially in the short term in response to changes in economic expectations or central bank policy decisions. For example, if the central bank changes interest rates or if there is a change in investor sentiment regarding economic growth or inflation, the yield curve can react quite noticeably.
This is not to be confused with labor supply curves, which may remain relatively stable in the short term, assuming no significant changes in wage rates, labor force demographics, or labor market institutions. The yield curve and labor supply curve are different concepts; the yield curve reflects the relationship between interest rates and the maturity of debt, while the labor supply curve represents the relationship between the quantity of labor supplied and the wage rate.