Which of the following describes an individual’s labor supply curve when the desire for more wage-related income is stronger than the desire for more free time?

Because of a bank merger, Ms. Davis lost her position as Vice President and had to seek work with other banks. Ms. Davis has the skills necessary to find a new job, thus she is best considered as

A) frictionally unemployed. B) cyclically unemployed. C) structurally unemployed. D) naturally unemployed.

Refer to Figure 3-4. If the price is $25

A) there is a shortage of 300 units. B) there is a shortage of 200 units. C) there is a surplus of 200 units. D) there is a surplus of 300 units.