Someone who wants to rent an urban lot in order to grow vegetables should expect the rental cost to reflect the
A) expenses incurred in developing the lot.
B) fact that land is a free gift of nature.
C) property taxes paid on the lot.
D) value of the lot to other people who would also like to use it.
D
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Based on the figure below. Starting from long-run equilibrium at point C, a tax cut that increases aggregate demand from AD to AD1 will lead to a short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________, if left to self-correcting tendencies. 
A. D; C B. B; C C. B; A D. D; B
The expenditure approach values ________ and the income approach values ________
A) goods and services at market prices; goods and services at factor prices B) services only at factor prices; goods only at market prices C) only goods at market prices; only services at factor prices D) goods and services at market prices; services at factor prices E) goods and services at factor prices; goods and services at market prices
The opportunity cost of going to an outdoor music festival is
A) the value of the time spent at the festival. B) zero because there are no overhead costs for an outdoor festival. C) equal to the highest value of an alternative use of the time and money spent on the festival. D) the enjoyment you receive from going to the festival. E) the cost of the festival ticket only.
When a consumer shifts her purchases from product X to product Y, the marginal utility of
A) X falls and the marginal utility of Y will increase. B) both X and Y will decrease. C) X increases and the marginal utility of Y will fall. D) both X and Y will increase.