Disguised unemployment refers to
a. workers who shirk their responsibilities and don't contribute to output
b. unemployed people who don't admit they are unemployed
c. workers whose output is valued at less than their wage
d. unemployed people who pretend to be working
e. none of the above
C
Economics
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When the percentage change in the quantity demanded is less than the percentage change in price, then demand is
A) inelastic. B) unit elastic. C) elastic. D) irrelevant. E) undefined.
Economics
As the number of firms in an industry increases, the residual demand curve becomes
A) more elastic. B) less elastic. C) larger. D) vertical.
Economics