Which statement is most accurate with respect to the federal government's land policies in the 19th century?
A. It gave away land, and rarely if ever charged even a token amount per acre.
B. It gave away a lot of land and charged a token amount for the rest.
C. It gave away no land, but charged only a token amount.
D. It charged a fairly substantial amount for the land it sold.
B. It gave away a lot of land and charged a token amount for the rest.
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Suppose that a firm can invest $100 today in a project and receive $105 a year from today. There is no inflation, and the annual interest rate in the economy is 6%. The firm should
A) invest in the project because the opportunity cost is greater than the return on the investment. B) not invest in the project because the opportunity cost is greater than the return on the investment. C) invest in the project because the opportunity cost is less than the return on the investment. D) invest in the project because the opportunity cost is the same as the return on the investment.
An increase in price causes an increase in total revenue when demand is
a. elastic.
b. inelastic.
c. unit elastic.
d. All of the above are possible.
Sales taxes are routinely collected by
A. the merchants selling the good or services. B. the Federal Trade Commission. C. the Department of Commerce. D. the Internal Revenue Service.
The demand for money that arises because holding money over short periods is less risky than holding stocks or bonds is called the
A) transactions demand for money. B) opportunity cost demand for money. C) liquidity demand for money. D) speculative demand for money.