Real estate is defined as land and its permanent improvements. Which of the following is an example of an improvement to the land?
A. Fence
B. Building
C. Sewer system
D. Personal property
Answer: C. Sewer system
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Tastes for products such as beer differ. As a result
A) consumers of beer have difficulty deciding what type of imported beer to buy. B) the quality of imported beer is less than it could be. C) we see countries specializing completely in the production of beer. D) different countries may each have a comparative advantage in producing different types of beer.
The federal funds rate is
a. determined in a market but targeted by the Fed. b. chosen by the Fed and enforced on the banks. c. chosen by Congress and enforced on the Fed. d. chosen by Congress and enforced on the banks. e. determined in the market and beyond the control of the Fed.
Private companies will invest in medical research if
a. they will produce general knowledge. b. they will produce a specific product for which they may receive a patent. c. there is no government intervention in the market for medical products. d. others will benefit from their discoveries.
The forces that generate economic growth are those that...
What will be an ideal response?