The supply curve for land in the city of San Francisco is most likely
A. an upward sloping straight line.
B. a downward sloping straight line.
C. vertical or perfectly inelastic.
D. horizontal or perfectly elastic.
Answer: C
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The average tariff rate imposed by the United States on imported goods
A) has generally increased over the past 60 years. B) has generally decreased over the past 60 years. C) peaked in 1990. D) peaked in 1980.
A firm is making a long-run planning decision. It wants to decide on the optimal size of plant and labor force. It is considering building a medium-sized plant and hiring 100 workers
Engineering estimates suggest that at those levels, the marginal product of capital will be 100 and the marginal product of labor will be 75. If the wage rate is $5 and the rental rate on capital is $10, is the firm making the right decision? Support your answer.
An example of an external force in business fluctuations is
a. falling interest rates due to lagging demand in a contraction. b. a devaluation in the nation’s currency. c. variations in inventories. d. the lag between price changes and cost changes.
Which of the following is an example of a principal/agent relationship?
a. Banks lending money to start-up companies. b. An investment banker investing the client's money into different securities. c. Advance booking for a car after watching its promos at a car show. d. Investing your money in fixed-return deposits and government securities.