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The United States Labor Force Employment • People are considered employed if they are 16 years or older and meet at least one of the following requirements: • They worked a least one hour for pay within the last week; or • They worked 15 or more hours PART 1 Introduction and Key Principles 1 Introduction: What Is Economics? 1 2 The Key Principles of Economics 27 3 Exchange and Markets 47 4 Demand, Supply, and Market Equilibrium 62 PART 2 The Basic Concepts in Macroeconomics 5 Measuring a Nation’s Production and Income 92 6 Unemployment and Inflation 115 PART 3 The Economy in the Long Run Uploaded By: John Allsopp. Its capacity to stir emotions, ignite contemplation, and catalyze profound. Peter Navarro, University of California, Irvine (Mar 20…. 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