If the natural rate of unemployment equals 4 percent and the actual rate of unemployment equals 6 percent, then cyclical unemployment equals:
A. -2 percent.
B. 2 percent.
C. 10 percent.
D. -1 percent.
Answer: B
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In the short run, a profit-maximizing firm will shut down if its total revenue is greater than its variable costs
Indicate whether the statement is true or false
A law that requires hairdressers to undergo many hours of training and acquire a license before they can offer haircuts to the public is an example of a
a. positive externality. b. natural monopoly. c. barrier to entry. d. public good.
When the elasticities of demand and supply are equal, the tax burden will be borne
A. entirely by the seller. B. mostly by the seller. C. equally. D. mostly by the buyer.
Refer to the information provided in Figure 13.3 below to answer the question(s) that follow. 
Figure 13.3Refer to Figure 13.3. The marginal revenue of the 10th pound of burritos is
A. $1. B. $4. C. $10. D. $100.