Increases in rent are generally due to
A. rises in the supply of land.
B. rises in the MRP of land.
C. declines in the supply of land.
D. declines in the MRP of land.
B. rises in the MRP of land.
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Which of these would NOT be a factor that would permit the existence of monopoly power?
A. High levels of sunk costs B. Control of a scarce resource C. Diseconomies of scale in the production of the product D. All of these responses are correct
Which of the following about employment discrimination is true?
a. Employers who discriminate against blacks and other minorities will have lower costs than rival firms that hire employees strictly on the basis of productivity. b. After adjusting for factors such as education, experience, and location, the earnings of black men are almost identical to the earnings of white men. c. If minority and white employees in a skill category are equally productive, the profit motive provides employers with a strong incentive to hire minority employees if they are available at a lower wage. d. The empirical evidence indicates that the earnings gap between whites and blacks is entirely the result of worker preference.
The opportunity cost of moving from point T to point Q would be
A. giving up trips around the world.
B. giving up heart transplants.
C. gaining trips around the world.
D. gaining heart transplants.
Possible targets for monetary policy include all of the following except
A) the government's budget deficit or surplus. B) money growth rate. C) expected changes in the price level. D) the interest rate.