In analyzing land rent, David Ricardo constructed a model based on
A) perfectly elastic demand for land.
B) a perfectly elastic supply of land.
C) land being available in infinite quantities.
D) the supply of land being perfectly inelastic.
Answer: D
You might also like to view...
Appreciation of the dollar will make imported goods more expensive and shift the aggregate demand curve outward
a. True b. False Indicate whether the statement is true or false
How does interbank foreign exchange trading work? What is being traded in the interbank part of the foreign exchange markets? What functions does it serve?
What will be an ideal response?
If the CPI rises from 206.7 to 212.7 between two consecutive years, by how much has the cost of living changed between these two years?
A) The cost of living has increased by 6%. B) The cost of living has increased by 12.7%. C) The cost of living has decreased by 6%. D) The cost of living has increased by 2.9%.
Personal income includes: a. income received in the form of transfer payments. b. wages and salaries
c. interest earnings on bonds. d. all of the above.