The value attributed to the land is the total estimated value of the property, assuming its highest and best (ideal) use, less the estimated value of the ______________
Fill in the blank(s) with the appropriate word(s).
Ans: anticipated improvements (e.g., the building).
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Bob plans to spend $60 per month on DVD movie rentals and CDs. The price of a movie rental is $3 and the price of a CD is $15. If Bob rents 5 DVDs per month, how many CDs can he buy?
A) 1 B) 2 C) 3 D) 4
How does competition ensure that the efficient product mix is attained?
What will be an ideal response?
If the demand curve for agricultural products is elastic and farmers as a group become more productive, then prices of agricultural goods will __________ and total revenue earned by farmers will __________
A) decrease; increase B) decrease; decrease C) increase; increase D) increase; decrease E) We cannot answer this question without knowing how elastic the demand curve is.
The United States has no comparative advantage in shipping, so a domestic shipping industry has no reason to exist
a. True b. False Indicate whether the statement is true or false