In recent years, the demand for orange juice in the United States has fallen and the supply of orange juice has also fallen, with the decrease in supply being larger than the decrease in demand. In this situation, the equilibrium price of orange juice

Suppose that during a given month 500,000 persons quit their job to become self-employed. This will cause

A) the unemployment rate to fall. B) the unemployment rate to rise. C) payroll employment to rise. D) payroll employment to fall. E) no change in either the unemployment rate or payroll employment.

The "New Deal" programs of the 1930s aimed at

(a) transforming American capitalism into a planned socialist economy. (b) introducing short-term measures to cure the depression but no fundamental changes in the American economy. (c) introducing measures to deal with the crises and cure the depression combined with measures to restructure important aspects of the economy and increase the role of government in it. (d) reintroducing laissez-faire policies (non-government intervention) like those that had worked in the 19th century.