The "natural rate of unemployment" is
a. the highest unemployment rate that can be tolerated
b. affected by social programs
c. not accepted among economists
d. likely to be above 10 percent
e. not an economic concept
B
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Which are social costs associated with the inability of shareholders to observe an executive's effort? (You may choose more than one.) a. Excessive insurance offered
b. The executive has to be exposed to risk to induce effort, and risk is costly. c. The executive ends up exerting less than first-best effort. d. Excessive effort induced.
The United States as a whole would be inappropriate as the relevant geographic market when an antitrust case involved
A) ABC and NBC. B) two auto producers. C) two steel producers. D) two concrete producers.
For a perfectly competitive market in which firms face an identical constant marginal costs, the amount of consumer surplus increases if
A. market demand increases. B. marginal cost increases. C. market demand decreases. D. none of these: insufficient information to answer.
Refer to the information provided in Figure 9.6 below to answer the question(s) that follow. 
Figure 9.6Refer to Figure 9.6. Assume this firm is in a constant-cost industry. For this firm to ________, the firm must be producing q3 units of output.
A. need to shut down B. be in long-run equilibrium C. be experiencing diseconomies of scale D. need to cut back on production to lower average costs