A __________ is a person who was employed in the civilian labor force and was either fired or laid off

Compared to an economy that uses a medium of exchange, in a barter economy

A) transaction costs are higher. B) transaction costs are lower. C) liquidity costs are higher. D) liquidity costs are lower.

If a firm shuts down in the short run, then

a. total revenue and total cost drop to zero b. total revenue drops to zero, but the firm must still pay its fixed cost c. total revenue drops to zero, but the firm must still pay some variable cost d. total cost drops to zero, but the firm still earns some residual revenues e. neither total revenue nor total cost drops to zero