During a recession, the percentage workers who are part time for economic reasons
A) increases more rapidly than the percentage of part-time workers.
B) decreases more rapidly than the percentage of part-time workers.
C) increases proportionately with the percentage of part-time workers.
D) decreases proportionately to the percentage of part-time workers.
E) does not change even though the percentage of part-time workers increases.
A
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Normative economic analysis involves
A) true statements of facts only. B) testable hypotheses by scientists. C) value judgments and opinions. D) purely descriptive statements.
Perfectly competitive markets will tend to under-allocate resources to nonexclusive public goods because:
a. these goods are produced under conditions of increasing returns to scale. b. no single individual can appropriate the total benefits provided by the purchase of such goods. c. these goods are best produced under conditions of monopoly. d. no private producer can provide the capital necessary to produce such goods.