Rasmussen College Principles of Economics Questions
You are a junior executive of a new cellular phone carrier called Technologies of the Future (TOF) that competes in the same market as Verizon Wireless, AT&T, and T-Mobile. You are asked to write a professional document that discusses the concepts below.
How would economic fluctuations affect the sale of smartphones?
Please define the four phases of the business cycle that affect economic fluctuations.
How would unemployment levels affect the sale of smartphones?
How would the sale of smartphones be affected if the labor force participation rate decreased?
Please define the labor force participation rate and provide the current labor force participation rate in the United States.
How would inflation and less consumer purchasing power affect the sale of smartphones?