Mark is an 86-year-old watchmaker who works ten hours a week to supplement his retirement income. In determining the U.S. unemployment rate, Mark would be considered
a. employed
b. unemployed
c. an involuntary part-time worker
d. not in the labor force
e. a discouraged worker
A
Economics
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What will be an ideal response?
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What happens to the absolute value of the marginal rate of substitution as you move down a convex (bowed toward the origin) indifference curve?
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