The true cost of a vacation, an economist would argue, exceeds the cost of food, lodging, transportation, and so on, because of

In March 2012, the State of California started to require all packaging for food and drink with the additive 4-methylimidazole (4-MI) be clearly labeled with a cancer warning. Because of this, both Pepsi and Coke changed their formula to eliminate 4-MI as an ingredient. If Pepsi and Coke had NOT changed their formulas, holding all else constant, what would have happened to the demand for these goods, assuming Pepsi and Coke were in a competitive market?

If the work-eligible population is 272 million people and the number of people in the labor force is 148 million, the number of people NOT in the labor force is equal to

Consider the following graph to answer the next five questions. During which year was U.S. average income climbing the most rapidly?

If the unemployment rate is 5.5% and the number of unemployed persons is 15 million, the number of people who are employed is approximately

Consider the following data, where gross domestic product (GDP) values are measured in millions of dollars, to answer the next seven questions. What was the growth rate of nominal gross domestic product (GDP) from 2016 to 2017?

Consider the following data that gives the quantity produced and unit price for three different goods across two different years to answer the next six questions. Assume that goods A, B and C are the economy’s entire output and that the base year is 2017.’ What was the rate of inflation between 2017 and 2018?

Use the following table to answer the next three questions: According to the above table, the labor force participation rate is

An accurate measure of gross domestic product (GDP) is derived by adding the

Consider the following data, where gross domestic product (GDP) values are measured in millions of dollars, to answer the next seven questions. What is the value of nominal gross domestic product (GDP) in 2018?