The phenomena of unemployment, discouragement, marginal attachment, and underemployment combine to form the concept of "subemployment."

Externalities are unintended costs or benefits imposed on third parties. Who creates these externalities?

a. the government b. the market c. the third parties themselves d. buyers create the costs, sellers create the benefits e. the economic activity of others that affects third parties

Wages tend to be sticky

a. because of contracts, social norms, and notions of fairness. b. because of contracts, but not social norms or notions of fairness. c. because of social norms and notions of fairness, but not contracts. d. None of the above are correct.