During an economic boom,
a. the actual rate of unemployment will exceed the natural rate of unemployment.
b. the output of the economy will exceed its long-run potential output.
c. widespread unemployment will cause inflation to increase.
d. the actual rate of unemployment will equal the natural rate of unemployment.
B
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In the short run, a change in the equilibrium price will
A) always lead to inflation. B) cause a shift in the demand curve. C) cause a shift in the supply curve. D) cause a change in the quantity demanded or supplied.
One company has 90% of the market for cola soft drinks. An antitrust action against this company is likely to be defended (by the company) by the argument that
A. there is no substitute for cola soft drinks. B. the market share is not important. C. the relevant market is for cola soft drinks. D. the relevant market is not that for cola soft drinks but for all soft drinks.
If a country had a trade surplus of $50 billion and then its exports rose by $30 billion and its imports rose by $20 billion, its net exports would now be
a. $0 billion.
b. $20 billion.
c. $40 billion.
d. $60 billion.
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 average total cost will be
A. $7. B. $9. C. $11. D. $15.