What is most likely to happen to the cost of owning and operating a golf course in a large city when the population grows?
A) The cost will decline because the course will be used closer to its capacity.
B) The cost will not change as long as no attempt is made to enlarge the course.
C) The cost will rise because the land will become more valuable for other purposes.
D) The cost will rise if the course is privately owned but will be unchanged if the course is municipally owned.
E) The cost will vary depending on the amount of competition from other courses.
C
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If a bond pays $50 a year to its holder and you buy it for $200, what is your interest rate?
What will be an ideal response?
An increase in the productivity of labor induces
A) an increase in the demand for labor. B) an increase in the cost of labor. C) a firm to hire fewer workers since fewer workers are needed with the increase in productivity. D) a firm to offer a higher wage for workers since the workers are now more productive.