What is being depicted in this graph?
a. Real estate prices are low when supply is low.
b. An increase in land supply will increase the price.
c. Demand determines the amount paid for land.
d. It is more expensive to rent than to buy land.
c. Demand determines the amount paid for land.
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According to Ricardian equivalence, a long-run impact on the economy occurs when the government ________
A) lowers taxes B) issues more government bonds C) increases spending on capital goods D) raises taxes
If a natural monopoly is subject to fair price regulation, it will require a subsidy to remain in business
Indicate whether the statement is true or false
Net exports equals
A) exports divided by imports. B) the sum of exports and imports. C) exports minus imports. D) exports during the year. E) none of the above
If an oligopoly market is contestable and new firms enter, the
A. Number of firms in the industry will decrease. B. Market power of the former oligopolists will be reduced. C. Profitability of the industry will increase. D. Former oligopolists will raise their prices.