a) Using the data from graph, calculate the firm's total profit. (b) If the firm operates at optimum efficiency, how much will its output be? (c) If the firm were a perfect competitor, how much will its price be in the long run?

Business cycles are best categorized as

(a) fluctuations in the production and employment levels in the business sector of the economy. (b) major upswings and downturns in most sectors of the economy. (c) variations in international trade. (d) all of the above.

For all employee earnings subject to Social Security taxes, what is the current Social Security tax rate for employees?

A) 0.8% B) 2.9% C) 4.2% D) 6.2%