According to the classical model, total employment will increase when
a. the birth rate increases
b. the government creates more jobs
c. the labor force increases
d. individuals receive more education
e. there is a recession
C
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Having a competitive advantage emanates from
a. Increased price b. Decreased cost c. One or both of the above d. None of the above
The authors of the text suggest that a comprehensive personal income tax with few loopholes would be efficient and equitable. What is their reasoning for this statement?
What will be an ideal response?
Refer to the short-run information provided in Figure 8.5 below to answer the question(s) that follow. 
Figure 8.5 Refer to Figure 8.5. If seven drones are produced, average variable costs are
A. $2.86. B. $14.29. C. $20. D. $21.43.
If the measured unemployment rate is 8% and the natural unemployment rate is 3%, then
A. frictional unemployment is 5%. B. structural unemployment is 11%. C. frictional unemployment is 11%. D. cyclical unemployment is 5%.