There is greater support for passive policymaking when

For a household, the opportunity cost of not working is the

A) price level. B) nominal wage rate. C) demand for labor. D) cost of living. E) real wage rate.

Assume someone organizes all farms in the nation into a monopoly. As a result, consumer surplus will

A) not change. B) increase. C) decrease. D) either increase, decrease, or not change depending if the monopoly's marginal revenue curve lies below, above, or is the same as its demand curve. E) None of the above answers is correct because the effect on consumer surplus depends on whether the monopoly is a single-price or a price-discriminating monopoly.