We see permanent price differentials in land because
a. the demand for land is high
b. land has few uses
c. location is the inherent quality that often determines its value
d. real estate brokers are inefficient
e. land is not traded in free markets
C
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During most of the period since 1962, federal government spending as a percentage of GDP has hovered around _____
a. 25–30% b. 10–15% c. 17–22% d. 20–25%
A profit-maximizing monopolist will continue expanding output as long as
a. marginal revenue exceeds marginal cost. b. marginal revenue is positive. c. the cost of producing an additional unit exceeds the marginal revenue derived from the unit. d. economic profit is more than zero.
Refer to the information provided in Figure 15.5 below to answer the question(s) that follow. 
Figure 15.5 Refer to Figure 15.5. Assume The Custom Sweater Shop has fixed costs of $500 and is a monopolistically competitive firm. If the firm produces the profit-maximizing level of output and sells it at the profit-maximizing price, the firm ________ of $400.
A. earns a profit B. suffers a loss C. has total cost D. has total revenue
The number of worker-hours available in an economy is determined by the following, except:
A. Size of the labor force B. Length of the average workweek C. Unemployment rate of the workforce D. Labor force participation rate