under a system of private property,could a 60 yr old owner of a tree farm benefit by planting and caring for a crop of douglas firs, most of which will not be ready to harvest for 50 yrs
What will be an ideal response?
yes, the farmer will benefit from increased valuation of the land as the trees grow and harvest moves closer
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In a small, agricultural nation, consumers buy only steak and potatoes. In 2009, the base year, the typical consumer spent $potatoes on strawberries and $100 on steak. The price of potatoes is $1 and the price of steak is $2 in 2009
In 2009, the price of potatoes is $2 and the price of steak is $1. The CPI for 2010 is A) 80. B) 125. C) 100. D) 110. E) 25 percent.
When an average cost pricing rule is imposed on a natural monopoly, ________
A) total surplus is maximized and the monopoly incurs an economic loss B) the monopoly makes zero economic profit C) the monopoly makes an economic profit D) total surplus is maximized and the monopoly makes an economic profit
The repo market is most closely related to the
A) federal funds market. B) Treasury bond market. C) Treasury note market. D) commercial paper market.
The net exports effect exists because a:
a. higher price level will reduce interest rates and stimulate foreign investment. b. lower price level will make domestically produced exports less expensive relative to foreign goods. c. higher price level will reduce the purchasing power of money. d. lower price level will encourage Americans to import more foreign goods.