Long-run economic rent or profit do not exist for fixed factors like land because
A) bidding drives up the price of the factor until no economic rent exists.
B) there is no market for such factors.
C) these factors have L-shaped isoquants.
D) these factors will earn economic profits.
A
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The tendency for the values of two variables to move in a predictable and related way is known as
A) a natural experiment. B) a normative relationshi
The degree to which the public believes the central bank's announcements about future policy is its
A) reputation. B) transparency. C) openness. D) credibility.
Which statement is true?
A. The National Football League, Major League Baseball, and the National Basketball Association are all monopsonies. B. Professional baseball, basketball, and football all used to be monopsonies, but ceased to be with the emergence of free agent bargaining. C. Professional sports are not now, nor ever were monopsonies. D. None of these statements are true.
The forward exchange rate:
a. allows investors to be sure of the price at which they can trade forex in the future. b. is the rate at which a trader can purchase currency for immediate delivery. c. is the rate of discount that international banks get when they purchase. d. is the rate that speculators consider if they are looking for bargain prices .