A good that takes up a very large percentage of the consumer's budget will tend to have

The natural rate hypothesis states that when the inflation rate ________, in the short run the unemployment rate ________ and in the long run the unemployment rate ________

A) falls, decreases; decreases B) rises, decreases; returns to the natural unemployment rate C) falls, increases; decreases D) falls, decreases; returns to the natural unemployment rate E) rises, decreases; decreases

Producer surplus is measured as the

A) area under the demand curve above market price. B) entire area under the supply curve. C) area under the demand curve above the supply curve. D) area above the supply curve up to the market price.