Which of the following describes that people cannot examine every possible choice available to them but instead use simple rules of thumb to sort among the alternatives that happen to occur to them?
A. normative economics
B. ceteris paribus
C. self-interest
D. bounded rationality
Answer: D
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During the 2008 - 09 recession, the U-6 measure of the unemployment rate
A) which counts marginally attached workers as unemployed but does not count discouraged workers as unemployed, reached 17 percent. B) which counts all part time workers as employed, reached 12 percent. C) which counts discouraged workers as unemployed but does not count marginally attached workers as unemployed, reached 17 percent. D) which counts marginally attached workers and discouraged workers as unemployed, reached 17 percent. E) which counts marginally attached workers and discouraged workers as employed, reached 10 percent.
In poorer countries, free trade ________ the demand for labor in these countries and ________ the wages paid in these countries
A) decreases; lowers B) decreases; raises C) increases; lowers D) increases; raises