Who wrote the book Progress and Poverty, in which the author argued that the payment of rent to landlords serves no economic purpose?
a. George Akerlof.
b. Robert Dorfman.
c. Henry George.
d. Friedrich A. Hayek.
c. Henry George.
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The likelihood of successful collective action:
A. generally does not depend on the size of the group. B. can be lower for small groups. C. can be higher for large groups. D. can be lower for large groups.
Cost pull inflation occurs when the:
A. business cycle becomes sporadic and unpredictable. B. price of necessity goods increases suddenly. C. price of a key input increases suddenly. D. price level changes in response to changes in the business cycle.
What is Italy's opportunity cost of producing 5 pairs of shoes?
What happens in the money market when there is an increase in the supply of money?
A) The equilibrium quantity of money increases and the equilibrium interest rate increases. B) The equilibrium quantity of money increases and the equilibrium interest rate decreases. C) The equilibrium quantity of money decreases and the equilibrium interest rate increases. D) The equilibrium quantity of money decreases and the equilibrium interest rate decreases.