Suppose the population of the U.S. is 300 million people. Of these, the U.S. Bureau of Labor Statistics classifies 70 million people as "not surveyed," 80 million people as not in the labor force, and 144 million as employed. What would be the unemployment rate in this example?

Fixed costs are

A) a production expense that does not vary with output. B) a production expense that changes with the quantity of output produced. C) equal to total cost divided by the units of output produced. D) the amount by which a firm's cost changes if the firm produces one more unit of output.

A monopolist is

A) a firm with the largest annual sales in a country. B) a single supplier of a good for which there is no close substitute. C) a large firm that makes all the other firms in the industry do what it wants. D) a supplier of a good that everyone needs with the result that it makes large profits.