Which statement is true?
A. All land has the same value.
B. The supply of land rises with demand.
C. The supply of urban land rises with increases in demand.
D. The rent on a particular piece of land is based on the supply of land.
C. The supply of urban land rises with increases in demand.
You might also like to view...
The difference between positive statements and normative statements is that
A) a positive statement involves a value judgment and a normative statement is a statement of fact. B) a positive statement is a statement of fact and a normative statement involves value judgments. C) value judgments are made in normative statements but assumed in positive statements. D) normative statements are provable while positive statements are not.
Other things equal, granting unemployment benefits or welfare benefits to striking workers
A) reduces the likelihood of a strike since management will be more cooperative. B) reduces the costs of a strike to workers and will increase their willingness to strike. C) reduces the likelihood of a strike since union workers make wages significantly above unemployment benefits or welfare payments. D) increases the willingness of management to permit a strike.
If the price of a good is below the equilibrium price,
a. suppliers will find inventories building; they will cut output and raise prices. b. suppliers will find inventories being depleted. They will increase production and raise prices. c. the demand curve will shift down until an equilibrium is established at the existing price. d. the supply curve will shift up until an equilibrium is established at the existing price.
A person is considered unemployed if she is
a. working at a part-time job. b. taking a vacation from a job. c. working at a full-time job in a foreign country. d. not working but is actively looking for work.