Gene plays another hour of computer games rather than study for the hour even though he knows that the next day, when he takes his test, he will regret his decision. Gene is showing ________

Unemployment can be caused by downswings in the business cycle, people changing jobs, different skills needed by employers, or seasonal fluctuations in demand

a. True b. False Indicate whether the statement is true or false

A market that operates outside the legal system, either by selling illegal goods or by selling goods at illegal prices is referred to in economics as a

a. gray market. b. resource market. c. black market. d. criminal market.