Data for which country were first used to illustrate the relationship between unemployment and inflation (i.e., the original Phillips curve)?

A) France
B) United States
C) Canada
D) Germany
E) none of the above

E

Economics

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Finding an apartment in New York City is difficult. People even scan the obituaries in the hopes of finding an apartment. Provide an economic explanation for this

What will be an ideal response?

Economics

Recent data has shown that income and volunteer time are positively related. Assuming that volunteer time is included in leisure time, what could explain this observation?

A) Higher income individuals view leisure as a normal good such that the income effect dominates the substitution effect. B) Higher income individuals view leisure as a normal good such that the substitution effect dominates the income effect. C) Higher income individuals view leisure as an inferior good such that the income and substitution effects both increase leisure time. D) Both A and C.

Economics