Refer to Figure 13-4. What is the area that represents the total revenue made by the firm?

Which of the following groups experiences high unemployment rates?

a. White-collar professionals b. Attorneys c. Technical workers d. Blue-collar workers e. Web page designers

Which of the following best describes the invisible-hand concept?

A. The desires of resource suppliers and producers to further their own self-interest will automatically further the public interest. B. The nonsubstitutability of resources creates a conflict between private and public interests and calls for government intervention. C. The market system is the best system for overcoming the scarce resources-unlimited wants problem. D. Central direction by the government will improve resource allocation in a capitalistic economy.