Use the figure below to answer the following question.What area represents society's total surplus after the government imposes the excise tax on the market?

If the rate of job finding equals 7%, and the rate of job separation equals 1%, then the natural rate of unemployment is

A) 7%. B) 8.75%. C) 12.5%. D) 14.3%.

Refer to Figure 23.5 for a perfectly competitive firm. Given the current market price of $200, we expect to see

A. No change in the number of firms in the industry and no change in the market price. B. Firms exit from the industry, driving down the market price. C. Firms exit from the industry, driving up the market price. D. Firms enter the industry, driving down the market price.