In Economics, the term underemployment is defined as:

Suppose the price of a barrel of oil increases dramatically in the world market. How will the US economy be impacted by this event?

Within the context of the AD-AS Model, cost-push inflation is illustrated as:

Economist John Keynes was concerned that during a short-run macro equilibrium, the economy could experience:

Suppose the new tax plan signed into law by President Trump in December 2017 reduces tax rates on personal income for millions of working Americans. How will the US economy be impacted by this event?

The type of unemployment that increases most when teenagers look for temporary summer jobs is:

  Which of the following equations represent the Consumption Function?

What is the difference between Nominal GDP for 2016 and Real GDP for 2016?

According to the diagram of the stereotypical business cycle, when the economy enters into a period of expansion, we observe:

John lost his job as an accountant in October of 2017. He looked for a new accounting position for three years, but his search was unsuccessful. Now, he has concluded that there were very few jobs available in the economy, and he no longer looks for work. Which term below best describes John’s situation?