In the short run, if a firm operates, it earns a profit of $500. The fixed costs of the firm are $100. This firm has a producer surplus of

When labor productivity increases, the demand for labor curve ________ and the supply of labor curve ________

A) shifts rightward; shifts rightward B) shifts rightward; does not shift C) shifts leftward; shifts rightward D) shift s leftward; does not shift

Bill is a high-school dropout who lost his job in a fast food restaurant when the economy plunged into a recession. After 8 months, Bill is still looking for work. He is an example of

A) frictional unemployment. B) structural unemployment. C) cyclical unemployment. D) the natural unemployment rate.