Brian Vargo, an auto repair mechanic who remains unemployed because he refuses to work for less than $1,000 an hour, is:
a. counted as part of the labor force.
b. considered frictionally unemployed.
c. an underemployed worker.
d. not counted as part of the labor force.
e. considered as productively active.
d
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In a two-player simultaneous game, if player A has a dominant strategy and player B does not, player B will
A) employ a mixed strategy. B) choose his best strategy assuming that player A plays her dominant strategy. C) not achieve a Nash equilibrium. D) assume that player A does not choose her dominant strategy.
Lessons about the nature of economic processes will likely emerge from the analysis of transitional economies
a. True b. False
Assume a consumer purchases a combination of goods X and Y such that MUx / Px = 20 units of utility per dollar and MUy / Py = 10 units of utility per dollar. To maximize utility, the consumers should buy:
A. less of X and more of Y. B. less of both X and Y. C. more of both X and Y. D. more of X and less of Y.
Humphrey Gilbert was an explorer from _____
a. England b. France c. Holland d. Portugal e. Spain