Related to the Economics in Practice on page 221: Because land is demand determined, an acre of land in downtown San Francisco, California ________ an acre of land in downtown Knoxville, Tennessee.
A. would most likely cost less than
B. would most likely cost more than
C. should cost approximately the same as
D. would cost exactly the same as
Answer: B
Economics
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The owners of capital resources are compensated according to the
a. purchase price of the capital stock. b. marginal product of capital. c. value of the marginal product of capital. d. absolute level of production of final goods and services.
Economics
Refer to the table below . Which product is most responsive to a change in income?
A. Product W
B. Product X
C. Product Y
D. Product Z
Economics