Part-time workers for noneconomic reasons are people who
A) work less than 35 hours a week but would like to work more than 35 hours a week.
B) work more than 35 hours a week but would like to work less than 35 hours a week.
C) have lost their jobs within the last four weeks and are seeking another job.
D) do not want to work full time.
E) are discouraged workers.
D
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The monetary growth rule is a plan for increasing the quantity of money
A) at a rate which increases as the economy grows. B) at a rate which decreases as the economy declines. C) at a rate which increases during recessions and decreases during expansions. D) at a fixed rate that does not respond to changes in the economic condition.
Suppose that a perfect-maximizing monopolist operates with a horizontal marginal cost curve and no fixed costs. Which of the following would NOT be represented as part of the area between its demand curve and marginal cost curve?
A) total costs B) economic profits C) consumer surplus D) deadweight loss
Dan was certain that his upcoming economics test would be so easy that he could wait to study until the night before and still do well on the exam. When he cracked open his book and notes the night before the exam, he realized he should've started
studying earlier. According to behavioral economics, Dan's error was caused primarily by: A. a planning fallacy. B. an overconfidence effect. C. framing effects. D. hindsight bias.
Reaching a Nash equilibrium means that:
A. the outcome will be positive-positive. B. the players have failed to reach a stable outcome because one player will always wish to change his strategy once he finds out what the other player is doing. C. a cooperative equilibrium has been reached. D. the players have reached a stable outcome where neither would wish to change his strategy once he finds out what the other player is doing.