The price paid to purchase land
A) has no relation to cost because it did not cost anything to produce the land.
B) rarely has any relation to cost because it has usually been determined by competitive bidding.
C) usually depends on the cost to the seller of letting the purchaser have the land.
D) would more accurately reflect the social value of the land if the price were zero.
C
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Productivity growth rates in the United States have remained fairly constant from 1948 to 2000.
Answer the following statement true (T) or false (F)
An increase in the rate of economic growth curve could be caused by all of the following except
A. a national tax that encourages all employers to provide more training and education for employees which leads to an across-the-board upgrade of the skill level of the nation's workforce. B. a movement along the production possibilities curve so that the society produces more consumer goods and less capital goods. C. an increase in immigration that increases the country's labor force by 20 percent. D. an increase in research and development spending for space technology that improves the quality of the nation's capital stock.
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, as the economy moves from Point D to Point B, the opportunity cost of hybrid cars, measured in terms of motorcycles,
A. initially increases, then decreases. B. increases. C. remains constant. D. decreases.
The demand for money curve is shown in the figure above. What could shift the demand for money curve rightward from the curve illustrated in the figure above?
A) a decrease in real GDP B) a decrease in the supply of money C) a fall in the nominal interest rate. D) an increase in the price level E) a fall in the real interest rate