If a competitive firm maximizes short-run profits by producing some quantity of output, which of the following must be TRUE at that level of output?

The process of moving from disequilibrium to equilibrium in labor markets creates special problems because

a. we are all workers threatened by recession b. we cannot spend money we have not earned c. the process is very short d. the process is especially lengthy e. negative shocks create economic expansions

The average hourly wage (excluding benefits) in the United States is currently

a. $7.50 b. $9.95 c. $15.00 d. $20.00