For an individual such as a movie star or a pop singer whose natural talents are almost impossible to duplicate
A) all of their earnings consist of economic rents.
B) none of their earnings consist of economic rents since rent applies only to land.
C) part of their earnings consists of economic rents.
D) all of their earnings consist of interest payments.
Answer is C) part of their earnings consists of economic rents.
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Which of the following statements is an example of agenda control?
a. A governor vetoes a concealed carry law. b. A state legislature puts on the ballot a $500 million high-tech infrastructure initiative. c. A state education department implants a federal education law. d. A private citizen sues to prevent her home being taken through eminent domain.
If the economy is experiencing unemployment, then the most appropriate government policy would be to:
A. shift the aggregate demand curve by using a tax increase coupled with spending cuts. B. shift the aggregate supply curve by using a tax increase coupled with more spending. C. shift the aggregate supply curve by using a tax cut coupled with spending cuts. D. shift the aggregate demand curve by using a tax cut coupled with more spending.