Which of the following would be the most likely result if high-speed rail service were introduced to an area and made commuting from that area easier?
A. The cost of living far from one's workplace would rise, and the value of land would increase.
B. The cost of living far from one's workplace would rise, and the value of land would decrease.
C. The cost of living far from one's workplace would drop, and the value of land would increase.
D. The cost of living far from one's workplace would drop, and the value of land would decrease.
Answer: C
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On the graph above, at the point where quantity demanded equals quantity supplied (let's call it point A), the economy has reached its ________
A) general equilibrium, and barring any shocks, it will not move from A B) long-run equilibrium, and barring any shocks, it will not move from A C) short-run equilibrium, and even without any shocks, it may move away from A D) short-run equilibrium, and barring any shocks, it will not move from A E) none of the above
Which of the following is not one of the leading indicators?
A) index of consumer expectations, U. of Michigan B) change in consumer price index for services C) vendor performance, slower deliveries diffusion index D) manufacturers' new orders, nondefense capital goods
The law of comparative advantage explains why
a. specialization and exchange will make it possible for trading partners to expand their combined output. b. there will be an inverse relationship between the price of a product and the quantity of it that will be demanded. c. larger firms will have lower per unit costs than smaller firms. d. an increase in the price of a good will lead to an expansion in the quantity supplied by business firms.
The currency deposit ratio, c, is 0.10. The reserve requirement, rr, is 0.07. The excess reserve ratio, e, is 0.10. What is the size of the money multiplier?
A) 4.70 B) 4.07 C) 4.75 D) 4.00