If the supply curve for land was a vertical line, then any payment made for land would be considered
A) as economic rent.
B) as economic lease.
C) as economic interest.
D) as an opportunity lease payment.
A
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Suppose you take a trip during spring break. To determine the benefit of taking the trip, you
A) calculate the opportunity cost of the tri
In recent years, Taiwan has experienced increases in savings and investment. As a result of the higher investment and saving, we expect i. increases in physical capital. ii. increases in the inflation rate. iii. advances in technology
A) i and iii B) i and ii C) ii only D) ii and iii E) i, ii and iii
For a normal good, an expected increase in income would: a. shift demand to the right
b. shift demand to the left. c. increase the slope of the demand curve. d. decrease the slope of the demand curve.
Which statement is true?
A. Our lower rate of productivity growth has been affected by our low rate of savings. B. Our lower rate of productivity growth has been caused almost entirely by our high rate of savings. C. Our high rate of productivity growth has been caused almost entirely by our high rate of savings. D. Our high rate of productivity growth has been caused almost entirely by our low rate of savings.