When the supply of land is upward sloping,
a. all land owners earn land rents
b. the demand for land must intersect it
c. all land owners have the same supply price
d. different supply prices are generated for different lands
e. a rightward shift in demand causes land rents to fall
D
Economics
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If the level of government spending rises and simultaneously there is a fall in the money stock, we definitely know that
a. income will rise. b. the change in the interest rate will be ambiguous. c. income will fall. d. the interest rate will fall. e. None of the above
Economics
Refer to Figure 5.1. In which graph does a shift from BL1 to BL2 represent an increase in the consumer's income?
A. A
B. B
C. C
D. D
Economics