What line in the above graph would best represent the supply curve for land?
A. 1
B. 2
C. 3
D. 4
B. 2
You might also like to view...
In the Heckscher-Ohlin model, when there is international-trade equilibrium
A) the relative price of the capital intensive good in the capital rich country will be the same as that in the capital poor country. B) the capital rich country will charge less for the capital intensive good than the price paid by the capital poor country for the capital-intensive good. C) the capital rich country will charge more for the capital intensive good than the price paid by the capital poor country for the capital-intensive good. D) workers in the capital rich country will earn more than those in the poor country. E) the workers in the capital rich country will earn less than those in the poor country.
By changing its regulations, the Fed ___ force the banking system to reduce the money supply; by changing its regulations, the Fed ____ force the banking system to increase the money supply:
a. Can; can b. Can; cannot c. Cannot; can d. Cannot; cannot.
In response to the recession of 2008-2009, the fiscal policy of the federal government was
a. highly expansionary, and this Keynesian stimulus promoted a rapid recovery. b. highly expansionary, but this was largely offset by the Fed's restrictive monetary policy c. highly restrictive, but this was largely offset by the Fed's highly expansionary monetary policy d. highly expansionary, but the unemployment rate nonetheless remained high during 2010 and 2011
Which of the following is the most likely explanation for the imposition of a price floor on the market for corn?
a. Policymakers have studied the effects of the price floor carefully, and they recognize that the price floor is advantageous for society as a whole. b. Buyers and sellers of corn have agreed that the price floor is good for both of them and have therefore pressured policy makers into imposing the price floor. c. Buyers of corn, recognizing that the price floor is good for them, have pressured policymakers into imposing the price floor. d. Sellers of corn, recognizing that the price floor is good for them, have pressured policymakers into imposing the price floor.