We see permanent price differentials in land because
a. the demand for land is high
b. land has few uses
c. location is the inherent quality that often determines its value
d. real estate brokers are inefficient
e. land is not traded in free markets
C
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All of the following are components of aggregate expenditure except
A) government spending. B) net export spending. C) actual investment spending. D) consumption spending.
In the long run, if the money supply increases: a. most of the resulting rise in nominal GDP will be a result of increases in the exchange rate. b. most of the resulting rise in nominal GDP will be a result of increases in the price level. c. most of the resulting rise in real GDP will be a result of increases in the price level
d. most of the resulting rise in real GDP will be a result of increases in the interest rate. e. most of the resulting rise in real GDP will be a result of increases in aggregate expenditure.