Graph 9-4 This Graph Refers to the Market for Kiwifruit in New

question 48

Multiple Choice

Graph 9-4
This graph refers to the market for kiwifruit in New Zealand.
-According to Graph 9-4, total surplus in New Zealand after the trade in kiwifruit is:

• A)a + b
• B)a + b + c
• C)a + b + c + d
• D)b + c + d

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Definitions:

Discouraged Workers

Individuals who are not actively seeking employment because they believe no jobs are available for them or there are no opportunities for which they qualify.

Unemployed

Individuals who are capable of working and are actively seeking employment but are unable to find a job.

Unemployment

The state of being without a paid job despite seeking employment.

Cyclical Unemployment

The type of unemployment that rises during economic recessions and falls when the economy improves, closely related to the business cycle.