Land owners with secure and protected property rights are motivated to
(a) use their land productively.
(b) maintain their land and its value as long as the land is owned privately
and profits are realized by the land owners.
(c) not hold their land idle if they face property taxes due to costs
imposed by the tax system.
(d) link land ownership and personal freedom.
(d)
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Suppose that in the future, real GDP per person grows 2 percent a year in the United States and 4 percent a year in China. It will take real GDP per person approximately ________ years to double in the United States and approximately ________ years to double in China.
A) 35; 8.75 B) 35; 17.5 C) 20; 10 D) 50; 25 E) 70; 35
The profits and losses on a futures contract accrue to you daily, as the contract is "marked to market" daily.
Answer the following statement true (T) or false (F)
Which of the following describes a characteristic of a perfectly competitive market?
A) Equilibrium is achieved when demand for the product sold in the market equals the supply. B) There are many buyers and sellers. C) There are many sellers but few buyers. D) There are many buyers but few sellers.
If you bought a long contract on financial futures you hope that interest rates
A) rise. B) fall. C) are stable. D) fluctuate.