Terrell, 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.
b. considered frictionally unemployed.
c. an underemployed worker.
d. not counted as part of the labor force.
e. considered as productively active.
D
Economics
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If Sam decides to work, his
A) reservation wage is greater than his wage rate. B) reservation wage is less than his wage rate. C) value of marginal product is greater than his wage rate. D) value of marginal product equals his wage rate.
Economics
Based on price setting behavior, which of the following will cause a reduction in the price level?
A) an increase in productivity B) a reduction in the nominal wage C) a reduction in the markup D) all of the above E) none of the above
Economics