Andrea Burris lost her job in a company layoff 5 months ago. She would take a job if one was offered, but she has given up looking for work until the economy improves. She is:
A. a member of the civilian labor force who is employed.
B. a member of the civilian labor force who is unemployed.
C. a member of the civilian labor force who is underemployed.
D. a discouraged worker who is not a member of the labor force.
Answer: D
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Answer the following statement(s) true (T) or false (F)
1. If either player is receiving his maximum payoff, then that outcome is Pareto optimal. 2. An outcome that is Pareto optimal is preferred by both players to all other possible outcomes. 3. A Nash equilibrium need not be Pareto optimal, and a Pareto-optimal outcome need not be a Nash equilibrium. 4. In the Prisoners' Dilemma game, the only outcome that is not Pareto optimal is also the game's only Nash equilibrium. 5. When a game is played sequentially, the first player will have an advantage over the second player.
Can real standards of living go up without any positive economic growth?
An increase in the capital stock has the same effect on the production function as an increase in
a. labor. b. output. c. GDP. d. technology.
In the short run where total variable cost is _________ at a(n) _________ rate, marginal cost is positive and decreasing.
A) increasing; increasing B) increasing; decreasing C) decreasing; increasing D) decreasing; decreasing