The underemployed are defined as people who have:
a. full-time jobs and who are looking for other full-time permanent employment that pays at a higher rate.
b. only part-time or temporary jobs and who are looking for full-time, permanent employment.
c. stopped looking for employment even though they may be capable of holding a part-time job.
d. multiple full-time jobs and/or part-time jobs but are still counted as employed.
b. only part-time or temporary jobs and who are looking for full-time, permanent employment.
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If a cartel is unable to monitor its members and punish those firms that violate their agreement, then
A) the member firms will each act as price setters. B) the cartel will prosper in the long run. C) the market will become a monopoly. D) the cartel will fail.
A surplus in a labor market exerts an upward pressure on the equilibrium wage rate
a. True b. False Indicate whether the statement is true or false
If Individual A and Individual B face a prisoner's dilemma, the ideal strategy is for: a. Individual A to confess and Individual B to not confess. b. Individual B to confess and Individual A to not confess. c. both individuals to confess
d. both individuals to not confess.
Consumers in the importing country will tend to favor import quotas over free international trade
Indicate whether the statement is true or false