There's not a single golf course in downtown Chicago because
A) it would be physically impossible to produce.
B) it would ruin the hustle and bustle of the city.
C) the opportunity cost of creating such a course is too low.
D) the demand for land for non-golf uses is high enough to discourage such an investment.
E) all of the above are true.
D
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Compensation of employees:
a. excludes the monetary value of fringe benefits. b. excludes paid vacations. c. is the largest component of GDP. d. excludes employer's taxes paid for employees' Social Security. e. includes rental income.
According to the textbook, if a wave of pessimism cause stocks to become generally overvalued, the best investment strategy is to
A. sell as many stocks as possible. B. continue to diversify your investment portfolio. C. buy only government bonds. D. hold all available stocks and sell them later.
Ceteris paribus, which of the following is most likely to cause a decrease in the supply of skateboards?
A. An increase in the price of skateboards. B. An improvement in skateboard-making technology. C. An increase in the cost of materials used to produce skateboards. D. All of the choices are correct.
During very bad recessions, if demand rises, aggregate supply will rise in the form of higher _____.
Fill in the blank(s) with the appropriate word(s).