The total cost curve:
A. is the sum of the variable cost curve and fixed cost curve.
B. is parallel to the variable cost curve.
C. is always above the variable cost curve.
D. All of these are true.
D. All of these are true.
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From time to time, the demand for workers has risen in one region of the United States and fallen in another. This illustrates
a. frictional unemployment created by efficiency wages. b. structural unemployment created by efficiency wages. c. frictional unemployment created by sectoral shifts. d. structural unemployment created by sectoral shifts.
Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________, 
A. Rising; B; C B. Falling; A; C C. Falling; A; B D. Rising; A; C
A firm in a price-taker market:
a. must take the price that is determined in the market. b. must reduce its price if it wants to sell a larger quantity. c. must be large relative to the total market. d. can exert a major influence on the market price.
A.H. Phillips developed the Phillips curve concept by looking at the relationship between: a. inflation and unemployment
b. wages and employment. c. wage inflation and monetary policy. d. inflation and output.