The table above gives data for the nation of Pearl, a small island in the South Pacific. When the economy is at full employment the price level is

Someone who is available for work but has not actively looked for work in the previous four weeks would be classified as

A) employed. B) not in the labor force. C) not in the working-age population. D) unemployed.

Which of the following is characteristic of a downturn in the business cycle?

A. Increased aggregate demand. B. Lower unemployment rates. C. Lower real output. D. None of the choices are correct.