Who among the following individuals is not an underemployed or a discouraged worker?
a. A person employed part-time but willing to work full-time
b. A homeless person who has not found work for a year and has given up looking for jobs
c. A nuclear physicist unable to work because of illness
d. A gourmet French chef working part-time at Burger King
e. A 60-year-old professor who has stopped looking for a teaching job because schools consider him too old
c
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Economists will always reach the same conclusion in their positive analyses
Indicate whether the statement is true or false
State sales taxes are operated as a system of
A) ad valorem taxation. B) unit taxation. C) income taxation. D) revenue minimizing taxation.
According to the indifference principle, housing prices
a. tend to converge over time b. tend to leave individuals indifferent about where they live c. only tend to be different to compensate individuals for differences in living conditions d. only B&C
The free-rider problem is triggered by being:
A. nonexcludable. B. rival in consumption. C. excludable and rival in consumption. D. excludable and nonrival in consumption.