Jacqueline, a brilliant new Ph.D. in economics, has turned down many job offers because she hopes eventually to teach at one of the top ten universities in her field. The type of unemployment she is experiencing is

If the price of Ollivander’s wands rises 10 percent during a year when the level of average prices rises 3 percent, the relative price of wands compared with other goods

The largest component of GDP as measured by the expenditure approach is

Using the table above, calculate the Labor Force Participation Rate in Nellyville.     

If consumer purchases of a good are highly sensitive to the price of the good, this is illustrated by a

As the dollar appreciates, which of the following is most likely to occur?

During the early 1990s, many workers in military-related industries lost their jobs as the defense budget was reduced. Unemployment of this type is called

If the underground economy is sizable, then GDP will

A firm purchases $600,000 worth of raw materials and pays wages and salaries of $100,000 and dividends of $200,000. If the firm sells its output for $1 million, the firm’s value added to GDP is

A cold snap hits Gainesville and increases people’s desire to own space heaters.  At the same time, the government removes a tax from the production and sale of space heaters.  Given these two events, what do you expect to happen to the equilibrium price and quantity of space heaters in Gainesville?