Refer to the information provided in Figure 7.11 below to answer the question(s) that follow. 
Figure 7.11
Refer to Figure 7.11. If the firm's cost of capital is $18 per unit, then its cost of labor is ________ per unit.
A. $1.80
B. $9
C. $36
D. $900
Answer: C
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If potential GDP increases,
A) aggregate supply increases. B) the money wage rate must have fallen. C) the quantity of aggregate supply decreases. D) the price level rises. E) aggregate supply does not change.
If real GDP grows by 3 percent, the velocity of circulation grows by -4 percent, and the quantity of money grows by 3 percent, then in the long run the inflation rate is
A) 1 percent. B) -1 percent. C) 4 percent. D) -4 percent. E) 10 percent.
Refer to Figure 9.5. If the government establishes a price floor of $2.50 and farmers grow only the amount of berries that will be sold, total consumer and producer surplus will be
A) $1.50. B) $300. C) $450. D) $500. E) $600.
Holding demand constant, an increase in supply leads to
A) lower prices and higher quantity demanded. B) lower prices and lower quantity demanded. C) higher prices and higher quantity demanded. D) higher prices and lower quantity demanded.