If land is reallocated or switched from agricultural use to recreational use, then it is likely that
A. the demand curve for land in the agricultural industry is shifting to the right.
B. the demand for food is less today than in previous decades.
C. food is not as important as recreation.
D. land earns a higher rent in recreational use than in agricultural use.
Answer: D
You might also like to view...
All individuals and firms in a country must gain from trade in order for it to be beneficial to the nation
Indicate whether the statement is true or false
In the 1960s, U.S. economy experienced
A. a substantial decline in real GDP but limited inflation. B. a substantial decline in real GDP coupled with significant inflation. C. substantial real GDP growth coupled with significant inflation. D. substantial real GDP growth with limited inflation.
According to the research described in your text, which of the following is among the factors that would increase a firm's probability of exporting?
A) low domestic productivity B) high domestic labor costs C) high level of efficiency D) high R & D demands
A high school dropout with poor work habits, little experience, and no vocational training, who has been out of work for three years but is actively seeking employment, would be _____ unemployed.
A. Frictionally B. Structurally C. Cyclically