An economic rent can be created by a common property without any admission fee
a. only if people have identical tastes.
b. if people's tastes differ, but the rent will still be sub-optimal.
c. if people's tastes differ, in which case the rent will be optimal.
d. if people's tastes differ, in which case the rent will be more than optimal.
b. if people's tastes differ, but the rent will still be sub-optimal.
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The Fisher equation states that the
A) expected real interest rate minus the expected inflation rate equals the nominal interest rate. B) expected inflation rate plus the nominal interest rate equals the expected real interest rate. C) nominal interest rate equals the expected real interest rate plus the expected inflation rate. D) expected real interest rate equals the expected inflation rate minus the nominal interest rate.
The Save More Tomorrow (SMarT) program found all of the following except that:
A. people want to save more than they typically do. B. participants quadrupled their savings in just a couple of years. C. if the default choice is to save a portion of income, people will save more. D. people were already saving at an optimal amount, so the program had no effect.
If an individual's income rises 4 percent and his clothing purchases increase 5 percent in response, the income elasticity for clothing by the individual is
A) -0.8. B) 0.8. C) 1.25. D) -1.25.
What are the factors that have been identified that affect a migration decision? Give examples of each
What will be an ideal response?