In the above figure, the price paid by the buyer before the tax is ________ per compact disc, and the price paid by the buyer after the tax is ________ per compact disc

High unemployment is undesirable because it

A) results in a loss of output. B) always increases inflation. C) always increases interest rates. D) reduces idle resources.

Which of the following statements is a normative as opposed to a positive economic statement?

A) Consumer spending generates more jobs. B) If the price of gasoline goes up, people buy less. C) Labor unions should be allowed to organize in every industry. D) Government intervention in markets is common in many countries.