Because the benefits of basic research are obvious and easy to measure, it is likely that the public sector pays for the right amount and the right kinds of basic research
a. True
b. False
Indicate whether the statement is true or false
False
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The aggregate price level is likely to rise if ________
A) the long-run real interest rate rises B) the long-run nominal interest rate rises C) the stock of money grows faster than real GDP D) real GDP grows faster than the stock of money
A good is said to have an elastic supply if its price elasticity of supply is:
A) equal to zero. B) between zero and one. C) equal to one. D) greater than one.
Many of the new pollutants to which the world has been subjected are
a. less visible. b. less malodorous. c. far more dangerous. d. All of the above are correct.
The cost of production on the "bottom forty" is $100,000 for a given size crop. On the "north forty," due to erosion of the soil, the cost is $150,000 . If both are being farmed by tenants, we would expect the rent on the "bottom forty" to be
a. $50,000 below the rent on the north forty. b. $50,000 above the rent on the north forty. c. different from that on the north forty by an indeterminable amount. d. $50,000 . and the rent on the north forty is $50,000.