According to Gary Libecap and Ronald Johnson, which of the following was a positive outcome of fraudulently obtaining land by larger firms?
a. Fines charged to fraudulent companies provided substantial revenues for the federal government.
b. Resources were transferred to companies that could take advantage of economies of scale.
c. Conflicts between farmers and railroads were reduced.
d. Legislators friendly to economic development were elected because of backing from the fraudulent companies.
b. resources were transferred to companies that could take advantage of economies of scale.
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According to this Application, what is home equity?
A) the difference between the value of homes and the amount of mortgage debt on the property B) the value of homes less the value of the property on which the homes are sitting C) the value of homes plus the value of the content in the homes D) the average retail value of homes listed for sale
Arturo actually values his home at $120,000 and claims he values the home at $120,000. In an eminent domain situation, the government would pay Arturo ________ for his home
A) exactly $120,000 B) more than $120,000 C) less than $120,000 D) the fair market value