Refer to the information provided in Figure 19.1 below to answer the question(s) that follow. 
Figure 19.1 Refer to Figure 19.1. Prior to the imposition of a payroll tax, this labor market was in equilibrium at a wage of ________ and employment of ________ workers.
A. $5.00; 500
B. $10.00; 700
C. $12.00; 650
D. $7.00; 800
Answer: D
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As a manufacturer becomes a mass producer, generally productivity ____ and wage rates _____.
A. falls; fall B. rises; rise C. rises; fall D. falls; rise
If the market for bottled water is perfectly competitive, how will the following aspects differ in the short run and in the long run?
a. Use of inputs b. Market supply curve of bottled water when firms have identical cost structures c. Profitability of firms with identical cost structures d. Condition to stop production e. Average cost curves of a firm f. Number of firms
A perfectly competitive market is characterized by a large number of small firms that produce a differentiated product
Indicate whether the statement is true or false
Which of the following bonds will have the highest yield-to-maturity if all three bonds appear identical to investors in terms of risk, liquidity, information costs, tax treatment?
A) one with a coupon of $50 B) one with a coupon of $100 C) one with a coupon of $200 D) none of the above