The rental price of land is
a. the price paid for ownership of the land.
b. the price paid for the flow of services from land over a specified time period.
c. always more than the purchase price.
d. All of the above are correct.
b
Economics
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A competitive firm's minimum supply price in the short run is its shutdown price
a. True b. False Indicate whether the statement is true or false
Economics
If the government decides to spend an extra $4 billion on fighter jets that they would otherwise have spent on computers, and the MPC = 0.75, what is the effect on AD?
a. AD increases by $20 billion. b. AD increases by $16 billion. c. AD increases by $4 billion. d. AD does not change.
Economics