The supply curve for land is perfectly elastic
a. True
b. False
Indicate whether the statement is true or false
False
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When policy makers take actions in response to or in anticipation of some change in the overall economy, there is
A) passive policy making. B) rationalization policy making. C) rational expectations policy making. D) active policy making.
A major factor contributing to the slow growth rate of less-developed economies is
A) the lack of well-defined and enforceable property rights. B) the lack of workers. C) the lack of natural resources. D) the high rate of illiteracy.
Which of the following is not a consequence of the Fed changing the reserve requirement?
A) Changes in the ratio are easily incorporated into banks' routine management. B) Changes in the ratio effectively places a tax on banks' deposit taking and lending activities. C) Decreasing the ratio will increase excess reserves. D) Increasing the ratio will decrease the amount of reserves banks have to loan.
Most tariffs have
A) only revenue effects. B) only protective effects. C) both protective and revenue effects. D) neither protective nor revenue effects.