A decrease in population can be expected to
a. increase the marginal product of land.
b. decrease the supply of land.
c. decrease the rents on land.
d. increase the demand for land.
c
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Market demand curves are found by
A. vertically summing individual demand curves. B. horizontally summing individual demand curves. C. summing individual demand curves in a parallel fashion. D. adding the slopes of individual demand curves.
The consumer price index [CPI] measures price changes at an earlier stage of production than the producer price index [PPI], hence, increases in the CPI are usually followed by increases in the PPI
a. True b. False Indicate whether the statement is true or false
Which statement about the economic impact of immigration is true?
a. State and local governments bear most of the costs of immigration. b. The federal budget pays the costs associated with educating immigrants. c. Immigration tends to have a positive effect on state and local budgets. d. Immigration tends to have a negative effect on the federal budget.
Samuelson and Solow argued that
a. high unemployment puts upward pressures on wages and prices. b. given the historical evidence, a combination of low inflation and low unemployment was not possible. c. Both A and B are correct. d. None of the above are correct.