Why would acquiring 20,000 acres of land in Florida to build an amusement park be more difficult than acquiring 20,000 acres of land in Florida to grow oranges?
What will be an ideal response?
To grow oranges, almost any land in Florida would suffice, and since this land does not need to be contiguous, that fact can be used as leverage to get landowners to negotiate lower prices for the land. For an amusement park, the 20,000 acres need to be contiguous, so individual landowners have a great deal of power to hold out for a higher price for their individual parcels of land.
You might also like to view...
According to economists, if policymakers are serious about reducing fuel consumption, they need to implement policies that make drivers think carefully about the costs and benefits of every mile driven, and the best way to accomplish this is by
A) increasing the gasoline tax. B) raising mandatory fuel economy standards. C) converting all roads to toll roads. D) limiting the number of miles per year that each driver is allowed to drive.
Which of the following statements would Milton Friedman agree with concerning the conduct of monetary policy?
A) Information lags are short, enabling the central bank to respond quickly to changes in the economy. B) There is little uncertainty over the effect of a change in the money supply on the economy. C) There are long and variable lags between monetary policy actions and their economic results. D) Wage and price adjustments are relatively slow, so changing the money supply will have a minimal impact on the real economy.