Owners of buildings can expect to collect ____ economic rent in the long run.
A. much
B. marginal
C. a competitive
D. little or no
Answer: D
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The money demand curve will shift to the right if:
A. the nominal interest rate decreases. B. the price level increases. C. the nominal interest rate increases. D. the price level decreases.
One reason that college graduates earn higher wages than non-graduates is because:
A. college graduation serves as a signal of the individual's productivity. B. there are no additional skills learned in college that increase productivity. C. college graduates are always less intelligent than non-college graduates. D. college graduates are less equipped to deal with technological change, as their skills are technology-specific.
Average total cost is equal to total cost divided by profit
a. true b. false
The velocity of money is the ratio of
A. real GDP to the stock of money. B. nominal GDP to the stock of money. C. the overall price level to the stock of money. D. nominal GDP to the overall price level.