Heres a story economists tell one another: A Nobel Prizewinning economist flew to New York City for

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Here’s a story economists tell one another: A Nobel Prize–winning economist flew to New York City for a conference. He got into a cab, and started talking with the cab driver. The cab driver said, “Oh, you’re an economist?

Let me tell you, this economy is terrible. I’m an unemployed architect.” The economist immediately replied, “No you’re not, you’re an employed cab driver.” According to the way the U.S. government measures unemployment, who is right?  L 0 1

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Modern Principles Of Economics

ISBN: 9781429239974

2nd Edition

Authors: Tyler Cowen, Alex Tabarrok

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