If all of the returns to a resource are in the form of economic rent,
a. the price of that resource is determined exclusively by supply
b. the price of that resource is determined exclusively by demand
c. the price and quantity of that resource are determined exclusively by supply
d. the price and quantity of that resource are determined exclusively by demand
e. the equilibrium price is zero
B
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If people in Pottsville purchase 20 percent more pickles today than they did in 1980,even though the price of pickles has increased 40 percent since 1980, the demand for pickles in Pottsville
A) does not obey the law of demand. B) has changed since 1980. C) is relatively elastic. D) is relatively inelastic. E) is unit elastic.
Full employment is not considered to be zero unemployment, because
A) some people do not want a job. B) people do not find jobs instantaneously. C) some cyclical unemployment always exists. D) there are not enough jobs for everyone who wants one.
When a company from Germany builds an automobile factory in the United States, the German firm has engaged in foreign direct investment
a. True b. False Indicate whether the statement is true or false