In analyzing land rent, David Ricardo constructed a model based on
A) perfectly elastic demand for land.
B) a perfectly elastic supply of land.
C) land being available in infinite quantities.
D) the supply of land being perfectly inelastic.
Answer: D
Economics
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A fall in the real interest rate
A) results in a movement along the demand for loanable funds curve. B) shifts the demand for loanable funds curve rightward. C) shifts the demand for loanable funds curve leftward. D) has no effect on the demand for loanable funds curve
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The equation of exchange
A) is MV = PY. B) becomes the quantity theory if velocity and the price level are constant. C) cannot be used in an economy with inflation. D) All of the above answers are correct.
Economics