A large underground economy results in an ________.

Actual unemployment can fall below the natural rate of unemployment due to

A) negative cyclical unemployment. B) structural unemployment. C) frictional unemployment. D) all of the above.

Lauren and Katy each bought a new bike lock for $20. Both Lauren and Katy would have paid $25 for the lock. Katy's consumer surplus equaled

A) $10. B) $40. C) $5. D) $20. E) $50.