(02.03 MC) Jane was fired from her job as a waitress at a restaurant due to a recession. How will Jane be categorized when computing the unemployment rate?

(02.04 HC) Assume that only two goods, A and B, are produced in an economy. In the base year, 5 units of A are produced for a price of $4, and 5 units of B are produced for a price of $6. And in a given year, 5 units of A are produced for a price of $5, and 5 units of B are produced for a price of $9. What is the CPI for the given year?

(02.04 MC) A consumer price index going from 140 in year 1 to 130 in year 2 means the economy is experiencing

(02.07 LC) At the current equilibrium real GDP, there is a recessionary output gap. Which of the following must be true?

(02.01 LC) The circular flow model of the economy divides economic activity into two broad categories, which are

(02.04 HC) Use the table to answer the question that follows. Year Price of X Quantity of X Price of Y Quantity of Y 1 $8 5 $9 7 2 $5 5 $7 7 The economy produced only two goods with the prices and quantities of each good for year 1 and year 2 shown in the table. Which of the following describes the state of the economy in year 2?

(02.07 LC) Which of the following is true if the economy is producing above the full employment level?

(02.01 LC) Which of the following is true regarding the circular flow model used to explain the GDP?

(06.06 MC) Assume that the real interest rate falls in Country Y. Which of the following will occur?

(01.01 MC)Two friends make baked goods for a living. They buy the ingredients and follow their own recipes. Which basic economic question do they still need to answer?