Which of the following people would be classified as employed in the Current Population Survey?
A) Rich, who is working 20 hours a week but wants a full-time job
B) Misty, who just quit her job to return full time to school
C) April, who just graduated from college and is looking for work
D) Jason, who was laid off from work less than 6 months ago but who has stopped looking for work
E) Laura, who is unpaid but is working 10 hours a week in the family business she and her husband run
A
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If mixed strategies are allowed in the Copycat Game, a Nash equilibrium will result if
a. both players randomly choose their strategies by flipping a fair coin. b. one player randomly chooses his strategy by flipping a fair coin, while the other player uses a pure strategy. c. one player randomly chooses his strategy by flipping an unfair coin, while the other player uses a pure strategy. d. both players stick to using pure strategies.
For a consumer not bound by the collateral constraint, a reduction in the price of the collateral leads to
A) nothing. B) an increase in current consumption and a decrease in future consumption. C) a decrease in current consumption and no change in future consumption. D) a decrease in current and future consumption.
If bargaining is costless, the assignment of property rights for an externality
a. has no impact on the possibility of an efficient outcome and no distributional impact. b. has no impact on the possibility of an efficient outcome but does have a distributional impact. c. does have an impact on the possibility of an efficient outcome but has no distributional impact. d. does have an impact on the possibility of an efficient outcome and does have a distributional impact.
Cross elasticity among goods in a perfectly competitive market is infinite
Indicate whether the statement is true or false