Which of the following factors is not a typical cause of changes in land rent?
A. Demand for land
B. Supply of land
C. Prices of the products produced from the land
D. Prices of other resources employed along with land
B. Supply of land
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If a bond offers $1,000 in interest payments at the end of each of next 5 years and a repayment of $10,000 also at the end of the 5 years and the current discount rate is 3 percent, what is the present value of the bond?
A) $12,569 B) $13,205 C) $10,857 D) $4,580
If the nominal GDP of a country increases by 25 percent in 5 years but real GDP remains more or less stable, it implies that the growth in nominal GDP was due to an increase in _____
a. total fiscal spending b. the rate of investment c. the amount of exports d. the rate of inflation
Refer to the above table. The production of this good goes through 4 different stages of production. What is the value added at Stage 2?
A. $0.75 B. $0.10 C. $0.02 D. $0.08
If a competitive firm faces a competitive labor market, it will hire labor until
A) w = p. B) w = MPL. C) w = MPL ? p. D) MPL = 0.