Which of the following investments can be classified as specific assets?
a. Opening a restaurant in the business district of a city.
b. Purchase of additional cotton bales expecting a rise in demand for cotton garments.
c. Leasing out land in a tourist spot to build a retail outlet.
d. Purchasing specialized equipment for a hydro-electric power project that will not produce electricity at a different location.
D
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A study by labor economists Hamermesh and Biddle found that
a. shorter-than-average men earn more than shorter-than-average women, all else equal. b. above-average looking people earn more than average-looking people, all else equal. c. shorter women earn more than taller women, all else equal. d. All of the above are correct.
More flexible labor markets will shift
a. both the long-run Phillips curve and the long-run aggregate supply curve to the right. b. both the long-run Phillips curve and the long-run aggregate supply curve to the left. c. the long-run Phillips curve to the right and the long-run aggregate supply curve to the left. d. the long-run Phillips curve to the left and the long-run aggregate supply curve to the right.