Refer to the information provided in Figure 9.1 below to answer the question(s) that follow. 
Figure 9.1Refer to Figure 9.1. If this farmer is maximizing profits, his profit will be
A. -$24.
B. $45.
C. $48.
D. $72.
Answer: C
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The natural rate of unemployment:
A) is a constant. B) is the average of the unemployment rate in a country over time. C) is determined by adding the unemployment rates in all countries and then dividing it by the number of countries. D) is always lesser than the level of cyclical unemployment in an economy.
Among potential stores of value, money
A) offers the highest rate of return. B) increases in value during periods of inflation. C) provides more services than the other assets. D) has the advantage of being the most liquid asset.
Suppose Katy Lucus maximized her total utility by buying different quantities of a variety of goods. Now suppose the price of one good rises. She then buys less of that good because the
a. MU/P of that good falls below the MU/P of other goods b. MU/P of that good rises above the MU/P of other goods c. marginal utility of that good diminishes d. total utility of that good diminishes e. marginal utility of that good rises
Data from the Bureau of Labor Statistics show that consumer spending on transportation is only slightly higher than consumer spending on food and beverages
a. True b. False Indicate whether the statement is true or false