The United States' economy would be operating at full employment with labor unemployment rate of ___ percent and a capacity utilization rate of _____ percent.

The demand for luxury suites at basketball games is more elastic if

A) these suites are a necessity. B) these suites are a luxury item. C) few close substitutes exist for these suites. D) basketball fans have little time to look for alternative suites. E) poorer fans cannot afford luxury suites.

Assume Alan's budget constraint is demonstrated by line A in the graph shown. Which of the following could cause Alan's budget constraint to change to line B?

A. The price of books could have decreased.
B. The price of books could have increased.
C. The price of movie tickets could have increased.
D. The price of movie tickets could have decreased.