Underemployment refers to
A. The same thing as unemployment.
B. A person who is not able to use her full capabilities in her job.
C. A discouraged worker.
D. A person who is lazy and not working hard at her job.
Answer: B
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A decrease in the price of one good results in a parallel shift in the budget line
a. True b. False Indicate whether the statement is true or false
Because the process can increase average wages, collective bargaining increases the well-being of all workers.
a. true b. false
In which market would the price be least likely to be "sticky"?
A. refrigerators B. steel rods C. fresh fruit D. trucks
The Lucas supply function, in combination with the assumption that expectations are rational, implies that announced policy changes
A. will have no effect on real output. B. will have no effect on nominal output. C. will have no effect on the actual price level. D. will have no effect on the expected price level.