Fig. 1 Stages of Production $1.00 (Wood Chips) Lumber Mill $1.50 (Raw Paper) Paper Mill $2.25 (Notebook Paper) Office Supplies Manufacturer $3.50 (Notebook Paper) Wholesaler $5.00 (Notebook Paper) Retailer

Fig. 2 Real GDP Growth Rate, GDP growth needed for constant unemployment rate GDP growth needed for constant output per capita Real GDP Growth Rate (Percent Change from Previous Period) Actual GDP growth rate

Fig. 3 U.S. Quarterly Unemployment Rate, Unemployment Rate (Percent)

Fig. 4 Actual and Potential GDP, ,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000 Actual and Potential Real GDP (Billions of 1996 Dollars) 10, Potential output Actual output

Fig. 5 How BLS Measures Employment Status Employed Worked one or more hours for pay? Unemployed Temporary layoff? Searched for work? Yes Not in Labor Force No

Fig. 6 Employment Status of the U.S. Population – June 2003 Employed137.7 Million Not in Labor Force Under 16 Military or Institutionalized Unemployed9.4 Million 73.9 Million 70 Million Civilian Noninstitutional Population Labor Force U.S. Population June 2003