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 and is unemployed
b. considered frictionally unemployed
c. an underemployed worker
d. not counted as part of the labor force
e. considered productively active even though he isn't working
D
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A favorable corporate culture leads to returns that exceed the cost of capital
Indicate whether the statement is true or false
In general, elasticity is a measure of
a. the extent to which advances in technology are adopted by producers. b. the extent to which a market is competitive. c. how firms' profits respond to changes in market prices. d. how much buyers and sellers respond to changes in market conditions.
A key assumption about the way firms behave is that they
A. maximize revenue. B. minimize costs. C. maximize profit. D. maximize market share.
A way in which government can attempt to solve the problems caused by information asymmetry in the marketplace is:
A. screening. B. building a reputation. C. disclosure laws. D. statistical discrimination.