Refer to the information provided in Figure 10.3 below to answer the question(s) that follow. 
Figure 10.3 Refer to Figure 10.3. If labor supply is given by S0 and the firm is using K1 units of capital, this firm should hire ________ units of labor to maximize profit.
A. I0
B. I1
C. I2
D. I3
Answer: A
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In thinking about the criteria for an ideal voting system, unanimity means if:
A. the median in the group prefers option X to option Y, then X beats Y. B. the majority of the group prefers option X to option Y, then X beats Y. C. everyone in the group prefers option X to option Y, then X beats Y. D. no one in the group prefers option X to option Y, then it must still be possible for X to beat Y.
Rank the components of aggregate demand by their sensitivity to changes in the real interest rate. Start with the most sensitive to the least sensitive.
What will be an ideal response?
The deadweight loss that is associated with a monopolistically competitive market is a result of
a. price falling short of marginal cost in order to increase market share. b. price exceeding marginal cost. c. the firm operating in a regulated industry. d. excessive advertising costs.
The unemployment rate tells us:
A. what percentage of the labor force want to work and can't find a job. B. what portion of the population is causing the economy to languish. C. how to solve the problem of unemployment. D. who is being affected by the fluctuations of the economy.