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Principles of Economics

Principles of Economics


  • What are the four phases of the business cycle?
  • Which phase of the business cycle would be the best time to purchase a large ticket item?
  • How do you calculate the labor force participation rate?
  • Who is accounted for in our country’s labor force?
  • How is our country’s unemployment rate calculated?
  • In one to two sentences, please define the term, “full employment?”

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