The value of land is determined in part by what firms and households are willing to pay for it.
Answer the following statement true (T) or false (F)
False
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In most circumstances, employees do not pay taxes on the value of health insurance their employers provide them
Indicate whether the statement is true or false
The early Phillips curve showed a trade-off between unemployment and inflation because it was drawn for a period in which the main source of instability was aggregate demand
a. True b. False Indicate whether the statement is true or false
Which of the following is not an important question for economic policy raised by the experience of the textile industry?
a. How does international trade affect consumer well-being? b. Who gains and who loses from free trade among countries? c. How do the gains from trade compare to the losses? d. Which argument for restricting free trade is politically feasible?
A firm produces 200 pop-up speakers at an average total cost of $27 and an average variable cost of $24. What is the firm's level of total fixed cost?
a. $3 b. $200 c. $600 d. $4,800