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When using a supply-and-demand model to illustrate how land rents are set, economists typically draw the supply curve as a vertical line because: a. The supply of land is fixed. b. The supply of land is perfectly inelastic. c. The quantity supplied of land does not increase when rents go up. d. All of the above.
Describe why this does not represent a violation of the law of demand. Which of the subsequent best explains illustrate what a forward contract.
Simon is given a free ticket to see Coldplay Saturday night. He already has a ticket to see Sting in concert that night. The Sting ticket cost Simon $50 though he would have paid as much as $80 to go to the show. Simon knows that he can easily sell t..
Assume a banking system with many banks. The reserve ratio in all banks is 16 percent and excess reserve is held in the banking system (i.e. banks are all "loaned up"). Sam sells gis government bond to the Fed. Sam received $3,000 in cash, which he ..
Suppose there are two goods being produced in the economy: robots and wheat. Robots are a capital intensive good and wheat is a labor intensive good. Suppose that there are two countries: France and Brazil. France is capital abundant and Brazil is la..
Needs advantages or disadvantages of buying imports versus buying domestic products in relation to the fashion industry
Create a table that lists at least four sources of growth in the economy along with two examples of each source. A brief caption should accompany your table, explaining what it contains and why these sources are important.
An economy needs 400 bn. Spending to close the recessionary gap, multiplier is 4; what should be the increase in spending on the part of the of the government?
Assume the market for bagels is in equilibrium.
q1. demonstrate graphically the cost of income taxation of 30 to consumers and producers for an income of
Trading partners should specialize production in accordance with comparative advantage, then trade and diversify in consumption because
If an economy experiences a decrease in consumer spending, most economists believe:
Historians have debated whether or not a “Market Revolution” took place in the United States during the first half of the nineteenth century. Was the Market Revolution simply a “transportation and communication revolution,” or is there evidence that ..
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