Stagflation refers to a period of staggering economic growth combined with very low inflation rates

The above table shows answers given by people interviewed in the Current Population Survey. Which person is cyclically unemployed?

A) A B) B C) C D) none of the people

Which of the following is an example of an implicit cost that a firm might incur?

A) the revenue a firm generates in using its resources B) the rental value of the office space the company owns and uses for itself C) the out-of-pocket expense to hire resources D) taxes owed to the state and Federal governments