Figure 10-7
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Which of the diagrams in Figure 10-7 represents a period of economic growth and inflation?

The graph shows the labor market for apple pickers in Ohio. If the government sets a minimum wage of $5 an hour, ________ apple pickers are unemployed

A) 6,000 B) 8,000 C) 10,000 D) 14,000 E) more than 14,000

By producing less, a firm can reduce

A) its fixed costs and its variable costs. B) its fixed costs but not its variable costs. C) its variable costs but not its fixed costs. D) neither its variable costs nor its fixed costs.