The town of Saddle Peak has a fixed supply of mountain view lots. In this case, the price per square foot of mountain view lots is
A) determined only by demand.
B) negotiated by environmental groups and property developers.
C) determined only by supply.
D) set by government officials of Saddle Peak.
A
You might also like to view...
In the labor market, an increase in labor productivity ________ the real wage rate and ________ the level of employment
A) raises; increases B) raises; decreases C) lowers; increases D) lowers; decreases
In 2009, our goods and services trade deficit was almost $______ billion.
A. 300 B. 400 C. 500 D. 600
Why do economists care about aggregate expenditures?
What will be an ideal response?
When the current Social Security surpluses end and the bonds in the trust funds are reduced in order to make payments to retirees, the financing for the redemption of the trust fund bonds will come from
a. higher taxes or more government borrowing. b. the surplus funds deposited in government banking accounts. c. equity capital being liquidated. d. the sale of private equities and securities that the government has been purchasing with the funds.