1. What are the changes which contribute to material progress? | Text |
2. Rent is increased by | Text |
a. increased population.
3. What is the effect of increase of population on the productive power of labor? | Text |
b. increased productivity.
c. investment in transportation and communication.
d. successful pro sports franchises.
e. all of the above.
4. What does increasing population do to the margin of production? | Text |
5. How can increasing population raise rent as a quantity without decreasing wages and interest as quantities? | Text |
6. The most important effect of labor-saving inventions is | Text |
a. to erode the gains made by labor unions.
7. What is the effect of labor-saving inventions on total production? On the demand for land? | Text |
b. to make low-wage foreign workers more competitive.
c. to give consumers more leisure time.
d. to allow the same number of workers to produce more wealth.
e. to decrease the wages of skilled workers.
8. What is the effect on rent of governmental expenditures on roads, drainage, irrigation, bridges, the internet, etc.? Offer an example. | Text |
9. Landowners contribute to increased land value by | Text |
a. erecting buildings on their land.
10. To what is the increase in land value mainly due? | Text |
b. making decisions about when to put land to use.
c. nothing at all; they don't contribute to land value.
d. advocating for protecting the local environment.
11. Increased overall production always
a. moves the margin of production toward the center.
12. As society advances, what becomes the most important factor that determines the value of land? | Supplement |
b. allows the government to balance its budget.
c. leads to higher inflation.
d. increases rent more quickly than wages and interest.
e. follows federal tax cuts.