Which of the following is true of earnings from land?
a. An increase in economic rent leads to an increase in the supply of land.
b. A decrease in transfer earnings from land leads to an increase in its demand.
c. An increase in economic rent does not lead to an increase in the supply of land.
d. A decrease in transfer earnings from land leads to a decrease in its supply.
e. An increase in economic rent raises the elasticity of supply of land.
c
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During the Christmas shopping season, the demand for money increases significantly. To offset the increase in money demand, the Fed must ________ the money supply, which will put ________ pressure on nominal interest rates.
A. decrease; downward B. increase; upward C. decrease; upward D. increase; downward
Refer to the above figure. The point at which saving equals zero is
A) only at point A. B) to the left of point B. C) only at point B. D) to the right of point B.
If the minimum efficient scale in toaster production is 500,000 units per year, the average cost of producing 300,000 toasters is greater than the average cost of producing 500,000
a. True b. False
If the product produced by workers experiences a decrease in demand, the value of marginal product of labor will:
A. decrease, increasing the demand for labor. B. increase, increasing the demand for labor. C. decrease, decreasing the demand for labor. D. increase, decreasing the demand for labor.