The number of unemployed divided by the labor force equals

In comparison to an employer in a competitive labor market, a monopsony employer hires ________ workers and produces ________ output

A) fewer; less B) fewer; more C) more; less D) more; more

Of the three major categories of consumption, ________ is the most volatile because their purchase ________

A) services; is sensitive to income levels B) nondurables; is sensitive to income levels C) durables; can be postponed when incomes decline D) durables; they are necessities