The existence of discouraged workers will lead to an official unemployment rate that is

Assume that a seller in a perfectly competitive market charges more than the equilibrium price. It is likely that this seller will:

A) increase his sales. B) lose only a few buyers. C) increase his profit. D) lose almost all of his buyers.

A rain barrel is a container that captures and stores rainwater for landscape and garden use during dry periods. As a result, rain barrels benefit the community through water conservation. If homeowners do not consider this external benefit of rain barrels, then a. the socially optimal quantity of rain barrels will be larger than the equilibrium quantity of rain barrels. b. the socially optimal

quantity of rain barrels will be smaller than the equilibrium quantity of rain barrels. c. the socially optimal price of rain barrels will be lower than the equilibrium price of rain barrels. d. the market for rain barrels would benefit from a tax on rain barrels.