An increase in the market interest rate, other things equal, will _____
Fill in the blank(s) with the appropriate word(s).
reduce the amount invested because the opportunity costs of investing will be higher.
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According to Ricardo's explanation of land rent, what happens when the demand for land increases?
A) The supply curve shifts to the right just enough to keep the price per acre constant. B) Revenues to owners of land increase but economic rent declines. C) The amount of economic rent stays constant, constrained by a perfectly inelastic supply curve. D) Both revenues to owners of land and economic rent increase.
To grow and prosper, less-developed countries must not:
a. invest in human capital. b. build a strong infrastructure. c. shift resources out of the production of consumer goods and into the production of capital goods. d. shift resources out of the production of capital goods and into the production of consumer goods e. improve the quality of the water supply
Jen is a waitress, and she gets paid an additional $2.00 per hour for agreeing to work on Valentine's Day. Jamie is also a waitress, but she did not work on Valentine's Day and hence did not get the extra $2.00 per hour. This difference in pay is an example of differences in human capital
a. True b. False Indicate whether the statement is true or false
If a firm is producing at an output where the total revenue curve crosses the total cost curve,
a. revenue is maximized b. cost is maximized c. cost is minimized d. profit is maximized e. profit is zero