Almost all of the rent that tenants pay to landlords of apartments buildings is economic rent.
Answer the following statement true (T) or false (F)
False
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As a possible approach to eliminating the government budget deficit, increasing taxes on the rich only would
A) not lead to a significant increase in tax revenues. B) lead to a significant increase in tax revenues. C) lead to an increase in real GDP. D) lead to a greater number of entitlements.
Which of the following combinations of real interest rates and inflation implies a nominal interest rate of 6 percent?
a. a real interest rate of 3 percent and an inflation rate of 2 percent. b. a real interest rate of 7 percent and an inflation rate of 1 percent. c. a real interest rate of 5 percent and an inflation rate of 1 percent. d. a real interest rate of 6 percent and an inflation rate of 1 percent.
A fundamental aspect of economics is to
A. analyze how choices are made. B. make sure that we always have sufficient resources. C. satisfy all our wants. D. ensure that every firm makes a profit.
Related to the Economics in Practice on page 196. The search engine business, which includes companies like Google and Bing, is subject to economies of scale. This means that as the use of a search engine such as Google ________, the long-run cost to provide additional searches on this engine will likely ________.
A. increases; rise B. decreases; fall C. increases; fall D. increases or decreases; stay the same