Which of the following statements is false?
A) People who live in cities with good weather receive that benefit for free.
B) People who own property in cities with good weather receive higher rents, ceteris paribus.
C) Housing prices are higher in cities with better weather, ceteris paribus.
D) The demand for housing is higher in cities with good weather, ceteris paribus.
A
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When workers expect the real wage to rise at a rate similar to productivity improvements, ________
A) the decrease in labor supply raises the real wage B) the increase in labor supply lowers the real wage C) the increase in labor supply raises the real wage D) the decrease in labor supply lowers the real wage
The public sector grew the most in Japan, rising from 35 percent relative to GDP in 1997 to 39 percent in 2016
a. True b. False Indicate whether the statement is true or false
When new firms choose to enter monopolistically competitive markets: a. there must be little diversity of products in the market
b. they are guaranteed economic profits upon entry. c. some firms in the market must be making economic profits. d. the demand curve faced by an established firm will shift to the right as a result.
The percentage change in the quantity supplied of a good or service when its price changes by one percent is:
A. income elasticity of supply. B. cross-price elasticity. C. price elasticity of supply. D. price elasticity of demand.