If land is not in demand, its rent will be _________.
Fill in the blank(s) with the appropriate word(s).
zero
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Exactly what is a "sunk cost"?
A) A decision somebody regrets having made B) A mistaken choice C) Unrecoverable costs D) A cost that haunts you for the rest of your life
In the balance sheet for the FBN bank above, the entries are in millions of dollars.. After FBN Bank loans the maximum amount it can, the loans have been spent, and the proceeds have been deposited in other banks, FBN Bank has excess reserves of
A) $360 million. B) $280 million. C) $100 million. D) $0.
Which of the following is not considered a barrier to entry?
a. large economies of scale b. control of inputs used in production c. a homogeneous product d. patents e. copyrights
Many economic policies fail for all of the following reasons except
A. It is difficult to accurately measure economic performance. B. Politicians and economists work together in formulating policies. C. Economic forecasts may be inaccurate. D. There are significant lags in response to policy implementation.