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 the payroll tax, this labor market ________ at a wage of $7.00 and employment of 800 workers.
A. was paying too high a wage rate
B. was employing too many workers
C. was employing too few workers
D. was in equilibrium
Answer: D
Economics
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I am considering loaning my brother $10,000 for one year. He has agreed to pay 10% interest on the loan. If I don’t loan my brother the $10,000, it will stay in my bank account for the year, where it will earn 2% interest. What is the opportunity cost to me of the loan to my brother?
a. $1,200. b. $1,000. c. $200. d. $800.
Economics
The long-run supply curve is upward sloping in a(n)
a. decreasing-cost industry b. increasing-cost industry c. constant-cost industry d. labor-intensive industry e. capital-intensive industry
Economics