The job loss rate
A. rises in expansions.
B. rises in recessions.
C. remains constant over the business cycle.
D. equals 1 minus the job finding rate.
Answer: B
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If average total cost equals $15 at 20 units of output and average total cost equals $15 at 21 units of output, then the marginal cost of the 21st unit is ____
a. zero b. $15 c. $20 d. $21
Phil sells duck calls in a perfectly competitive market. If duck calls sell for $10 each and average total cost per unit is $11 at the profit-maximizing output level, then in the long run
a. more firms will enter the market. b. some firms will exit from the market. c. the equilibrium price per duck call will fall. d. average total costs will fall.
Refer to the above figure. At Point B, the actual unemployment rate
A. tends to be higher than the natural unemployment rate. B. is negative. C. will decrease over time. D. tends to be lower than the natural unemployment rate.
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 maximizes profits, his revenue per bushel will be
A. $7. B. $9. C. $11. D. $15.