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PART-TIME WORKERS: People who are willing and able to work full-time (over 35 hours per week), but are forced to work less because employers don't need their productive efforts. While part-time workers officially have jobs, and are officially included in the "employed" category when the official unemployment rate is calculated, their labor resources are really only partially unemployed. A person working 20 hours a week, who is willing and able to work 40 hours a week, really should be considered as "half employed."
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ASYMMETRIC INFORMATION: The economics of information search tells us that everyone falls short of having perfect information. It suggests that everyone will have different information about different things. For example, if you aren't a plumber (nor have any desire to become one), then you aren't likely to seek information about the wages paid plumbers in Boise, Idaho. In contrast, this information could be quite beneficial to plumbers in Pocatello, Idaho. See also | information | adverse selection | signalling | moral hazard | advertising | market | opportunity cost | labor market |
Recommended Citation:ASYMMETRIC INFORMATION, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2023. [Accessed: February 7, 2023].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: asymmetric information
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INDUCED CONSUMPTION Household consumption expenditures that depend on income or production (especially disposable income, national income, or even gross domestic product). That is, changes in income induce changes in consumption. Induced consumption captures the fundamental psychological law put forth by John Maynard Keynes. It is measured by the marginal propensity to consume (MPC) and is reflected by the positive slope of consumption line. The alternative to induced consumption is autonomous consumption, which does not depend on income.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time driving to a factory outlet hoping to buy either a battery-powered, rechargeable vacuum cleaner or a remote controlled World War I bi-plane. Be on the lookout for attractive cable television service repair people.
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This isn't me! What am I?
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A U.S. dime has 118 groves around its edge, one fewer than a U.S. quarter.
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"Everyone's got it in him, if he'll only make up his mind and stick at it. None of us is born with a stop-valve on his powers or with a set limit to his capacities. There's no limit possible to the expansion of each one of us." -- Charles M. Schwab
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CBD
Cash Before Delivery
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