Rental income includes
A) the payment for the use of land.
B) the payment for the use of all rented inputs.
C) no income from rental housing because most houses are occupied by their owners.
D) Both answers A and B are correct.
D
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The production function Y = AK?L1-? exhibits
a. constant returns to scale. b. diminishing marginal returns to scale. c. increasing returns to scale. d. decreasing returns to scale. e. both a and b.
If there was both an increase in technology and an increase in labor force participation, real GDP growth would ____ and real GDP growth per capita would ____
a. increase: increase b. be indeterminate; be indeterminate c. be indeterminate; decrease d. increase; be indeterminate
Suppose that a competitive firm's marginal cost of producing output q is given by MC = 5 + 2q. Assume that the market price of the firm's product is $27. What level of output will the firm produce?
What will be an ideal response?
A baker of bread has a long-term fixed-price contract to supply bread. Which of the following would NOT reduce her risk?
A. Hedging this risk in the wheat futures market B. Finding a wheat farmer who will take the short position in a wheat futures contract C. Taking the long position in wheat futures contract D. Finding a wheat farmer who will take the long position in a wheat futures contract