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You just earned a degree and as a result, decided to quit a part-time job to focus on a job search full-time in your chosen field.  This is an example of …

(Use only the first two columns for this).In July 1, 2020 suppose the average price of goods and services is $5.   Suppose in 2025, it’s $7.50.  Which is correct about purchasing power?   (Hint: Think about our in-class study of the minimum wage over time)

Unemployment is best defined as :

Using the data shown, the labor force participation rate is closest to ….

GDP is most simply defined as the market value of a country’s …

The saver/lenders in the economy are the …

Suppose the basket is 5 shirts and 7 pants. Prices are …last year (the base year): $14.99 for shirts, $17.99 for pantsthis year: $15.49 for shirts, $18.25 for pants.What’s the value of the CPI this year?

Lending money to a friend is …    (hint:  ‘direct’ means no intermediary)

Suppose you see the following GDP growth rates: Q1  3% Q2   5% Q3  -4% Q4  – 2% When did the recession occur?

Which type of unemployment did we say is never “natural” for an economy?