Which of the following examples might cause an increase in demand for land?
a. The app was useful to find an alternate route during construction.
b. A report convinced many Americans that breathing sea air lowers blood pressure.
c. The old train station was being remodeled into a restaurant.
d. A neighborhood group raised money for a community playset for the park.
b. A report convinced many Americans that breathing sea air lowers blood pressure.
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The current chairman of the Federal Reserve System is
A) Ben Bernanke. B) Alan Greenspan. C) President Obama. D) Janet Yellen.
The above figure illustrates the case of a monopsony in the labor market. If the current wage paid is W1 and new wage legislation is passed that increases the minimum wage in this market to W2, the firm will
A) hire less labor at the higher wage and, according to the law of demand, moving from point D to B. B) hire the same amount of labor as before the law was passed because it cannot adjust to wage changes. C) hire more labor, moving from point C to B. D) pay a higher wage, moving from point C to A.