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TACIT COLLUSION: Seemingly independent, but parallel actions among competing firms (mostly oligopolistic firms) in an industry that achieve higher prices and profits, much as if guided by an explicit collusion agreement. Also termed implicit collusion, the distinguishing feature of tacit collusion is the lack of any explicit agreement. They key is that each firm seems to be acting independently, perhaps each responding to the same market conditions, but the end result is the same as an explicit agreement. This should be contrasted with explicit or overt collusion that does involve a formal, explicit agreement.

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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 do not 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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Today, you are likely to spend a great deal of time surfing the Internet seeking to buy either a country wreathe or galvanized steel storage shelves. Be on the lookout for jovial bank tellers.
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