The Philips curve shows a positive relationship between inflation and unemployment.

The Philips curve shows a negative relationship between inflation and unemployment.

The Philips curve is a vertical line, indicating that there is no relationship between inflation and unemployment.

The Philips curve is a horizontal line, indicating that there is a perfect inverse relationship between inflation and unemployment.

The person searches for a new job.

The person is between 16 and 65 years old.

The person is counted towards the labor force.

The person is counted when computing the participation rate.

both the CPI and the GDP deflator.

neither the CPI nor the GDP deflator.

the CPI but not the GDP deflator.

the GDP deflator but not the CPI.

A factory increases its output by 50% after hiring 10 additional workers.

A farmer doubles the amount of fertilizer used on a crop and sees the yield increase by 50%.

A company invests in new machinery and sees its productivity increase by 20%.

A bakery hires an additional worker and sees its output increase by a smaller amount than the previous worker hired.

The sale of used goods for $12,000.

The sale of services such as those performed by a doctor.

The sale of stocks and bonds.

All of the above are included in GDP.