Figure 5-16 
-In Figure 5-16, a decrease in the price of apples will
Definitions:
Full Employment
A situation in an economy where all available labor resources are being used in the most efficient way possible, typically characterized by the absence of cyclical unemployment.
Unemployment
The situation where individuals who are capable of working and actively seeking employment are unable to find a job.
Labor Force
The total number of people employed and those actively seeking employment in an economy.
Discouraged Workers
Individuals who are not actively seeking employment because they believe no jobs are available for them or there are no opportunities for which they qualify.
Q31: Which of the following statements is equivalent
Q51: Two economists from Ohio University estimated that
Q83: Total expenditure by a buyer is equal
Q88: Which of the following will shift the
Q115: A firm's optimal input proportions may change
Q125: When the price of a commodity rises,
Q149: Which price in Figure 4-21 is equilibrium?<br>A)P<sub>1</sub><br>B)P<sub>2</sub><br>C)P<sub>3</sub>
Q186: Price controls are usually enacted in response
Q200: Which of the following goods will have
Q277: Both demand and supply curves usually have