Special Grapes is a new wine company that wants to locate its vineyard in Sonoma Country, California, an exclusive area of the world for wineries. Which of the following will likely have the largest effect on Special Grapes' input prices?
A) land prices in Sonoma County, California
B) compensating wage differentials
C) traffic regulations in Sonoma County, California
D) the additional wages Special Grapes will have to pay its employees to work in Sonoma County, California
A) land prices in Sonoma County, California
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Ashton has the utility of wealth curve shown in the above figure. Ashton owns a sports car worth $30,000, and that is his only wealth. Ashton is a careless driver and there is a 30 percent chance that he will have an accident within a year
If he does have an accident, his car is worthless. Suppose all sports cars owners are like Ashton. An insurance company agrees to pay each person who has an accident the full value of their car. The company's operating expenses are $1,000. What is the minimum insurance premium that the company is willing to accept? A) $3,000 per year B) $6,000 per year C) $10,000 per year D) $15,000 per year
What is meant by the term homogeneous products? Give an example
What will be an ideal response?
In the figure above, a factor that could cause the demand for bonds to decrease (shift to the left) is
A) an increase in the expected return on bonds relative to other assets. B) a decrease in the expected return on bonds relative to other assets. C) an increase in wealth. D) a reduction in the riskiness of bonds relative to other assets.
Why do you think Congress and the President are reluctant to fix the problems (identified in the text) with the Social Security System?
What will be an ideal response?