The ______________________: is the expenditure required to construct the building today, replicating it in exact detail.
Fill in the blank(s) with the appropriate word(s).
Ans: reproduction cost
You might also like to view...
Figure 7-1
depicts a demand curve with a price elasticity that is
a.
perfectly elastic, implying that consumers will purchase as much as can be supplied at the market price.
b.
relatively inelastic, implying that a percent increase in price results in a smaller percent reduction in sales.
c.
unitary, implying that a percent change in price leads to an equal percent change in quantity demanded.
d.
perfectly inelastic, implying that the same amount will be purchased regardless of the price of the good.
Network externalities:
A. may be direct. B. may be indirect. C. may be positive. D. All of the statements associated with this question are correct.
Suppose that the price elasticity of supply is 0.8 and the price increases by 10%. We would predict:
A. an 8% increase in quantity supplied. B. a 12.5% increase in quantity supplied. C. a 0.8% increase in quantity supplied. D. a 1.25% increase in quantity supplied.
Actual unemployment can exceed the natural rate of unemployment due to:
A. structural unemployment. B. cyclical unemployment. C. frictional unemployment. D. All of these.