Take a look at Figure 30.9. In the last few decades, what has usually happened to the price of oil just before or during a recession? When oil price shocks force people to switch jobs, how much GDP...

Take a look at Figure 30.9. In the last few decades, what has usually happened to the price of oil just before or during a recession? When oil price shocks force people to switch jobs, how much GDP are they producing when they are out of work? Do you know anyone who “intertemporally substitutes” their labor? In other words, what are some careers where someone might choose to work more during times when the wage is higher but less when the wage is lower? (Example: Someone with a lawn-mowing business.) Think of three examples of such careers. (Hint: Seasonal jobs provide a lot of easy examples.)