In Japan, the market value of the land is approximately four times that of all the land in the United States, even though Japan is only about the size of California. The most likely explanation for this fact is
a. greater demand for land in Japan relative to the supply than in the United States.
b. land is very productive in Japan.
c. land is not fixed in supply in the United States.
d. Japanese workers are very productive.
a
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The above table gives the demand and supply schedules for Blu-ray discs. Suppose that the price of a Blu-ray disc player increases, resulting in the demand for Blu-ray discs decreasing by 8,000 units at all prices
What are the new equilibrium quantity and equilibrium price of Blu-ray discs? A) 8,000 and $8 B) 16,000 and $16 C) 20,000 and $20 D) 28,000 and $28
It is not possible to exclude people from consuming pure public goods
Indicate whether the statement is true or false
In an economy with flexible exchange rates, which measure(s) are successful at reducing unemployment in the context of the Three-Sector-Model?
a. Decrease government spending. b. Lower the discount rate for banks. c. Raise tax rates. d. Increase reserve requirements. e. All of the above
Noncompeting groups of workers are the result of:
A. differences in the age-earnings profiles of workers. B. differences in the "job tastes" of workers. C. differences in the innate and acquired abilities of workers. D. geographic immobility.