When supply increases and the supply curve shifts to the right, equilibrium price ________ and equilibrium quantity ________

An increase in cyclical unemployment will result in

A) an increase in structural unemployment. B) an increase in the unemployment rate. C) an increase in the natural rate of unemployment. D) a decrease in frictional unemployment.

For most commonly used social welfare functions, an efficient allocation is

A) always preferred over any inefficient allocation. B) not possible. C) usually preferred. D) never preferred.