If a decrease in income leads to a decrease in the demand for mac and cheese, then mac and cheese is

_____________ is the tendency of people to refuse to accept fair gambles

Fill in the blank(s) with the appropriate word(s).

If real GDP is increasing at a 2 percent annual rate while the unemployment rate is 7 percent, the economy is

a. not achieving full economic potential b. experiencing an increase of 2 percent in real annual per capita GDP c. experiencing a slump d. experiencing high prices and low inflation e. producing along its production possibilities frontier