Who does NOT earn economic rent in a competitive factor market?
A) No one
B) Everyone
C) The last factor of production hired
D) The inframarginal workers
E) Only owners of physical properties earn economic rents
C
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Based on the figure above, curve D is the firm's
A) marginal cost curve. B) total cost curve. C) average total cost curve. D) average variable cost curve. E) average fixed cost curve.
Using the supply and demand model, what would happen if foreign investors no longer want to loan money to the United States?
a. Interest rates will decrease, and investment will decrease. b. Interest rates will increase, and investment will increase. c. Interest rates will increase, and investment will decrease. d. Interest rates will decrease, and investment will increase.
In 2014, a farmer grows and sells $3 million worth of corn to Big Flakes Cereal Company. Big Flakes Cereal Company produces $8 million worth of cereal in 2014, with sales to households during the year of $7 million. The unsold $1 million worth of cereal remains in Big Flake Cereal Company's inventory at the end of 2014 . The transactions just described contribute how much to GDP for 2014?
a. $3 million b. $7 million c. $8 million d. $11 million
The Fed sells short-term debt and uses the proceeds to buy long-term debt. This represents:
A. operation twist. B. standard monetary policy. C. quantitative easing. D. precommitment policies.