Economic rent is defined as
a. the opportunity cost of a resource
b. the payment to a resource in excess of its opportunity cost
c. opportunity cost
d. total earnings
e. the part of a homeowner's housing that is included in GDP accounts
B
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According to the table above, ________ percent of total income is redistributed to the lowest income group
A) 4.7 B) 2.3 C) 1.5 D) 3.8
Suppose you have a collection of gold coins from the 19th century. Comment on their suitability to provide for you each of the three functions of money
What will be an ideal response?
If the percentage change in the quantity demanded of a good equals the percentage change in price, price elasticity of demand is:
a. elastic. b. inelastic. c. perfectly elastic. d. unitary elastic.
If the price of Diet Pepsi rises, what happens to the price of Diet Coke?
A. It will rise. B. It will fall. C. It will remain the same. D. There is no way of telling what will happen to the price of Diet Coke.