Consider the labor market depicted in the above figure. What wage rate must be paid to have the 200th hour of labor supplied?

One source of structural unemployment is ________

A) the seasonal character of production in some industries, e.g. agriculture in Alaska during winter months B) falling sales in an economic downturn C) wage rigidity D) high search costs

The key reason that the Soviet Union failed to develop new ways to make the economy efficient and was therefore not able to sustain economic growth was due to

A) the Soviet Union relying on entrepreneurs to develop new production technologies. B) the typical behaviors of managers and employees in a centrally planned economy. C) the failed attempt to convert to a market-based economy. D) the Soviet Union's lack of accumulating capital goods.