D Question 51 1 pts A new stadium, for which the city donates a vacant 50-acre parcel of land and investors finance the building of the stadium and the infrastructure, can be considered entirely privately funded because all the city contributed was unused land. True False |:> Question 53 1 pts You just received a new job offer that will increase your salary by $5,000. Because of this, your current job has a [ Select] opportunity cost than the new job offer. Question 54 1 pts Businesses like to locate in the center of town because: " it will help to revitalize downtown. " rent is low in the center of town. there is more competition. " they can attract more customers. - Question 55 1 pts What is the economic rationale for taxing the good under the Ramsey Rule? Sales taxes should be levied on the good which would generate the greatest marginal revenue, given the marginal sales tax. Sales taxes should be levied in inverse proportion to the price elasticity of demand thereby minimizing the deadweight loss imposed by the tax So long as the good can be purchased with non-discretionary income, it should be taxed. So long as the good can be purchased with discretionary income, it should be taxed. Question 57 1 pts A monopolist can force a consumer to buy a quantity larger than that dictated by the consumers demand curve (at a given price). True False Question 58 1 pts The Rent Gradient: ' Falls as one approaches the city center. Falls as one approaches the stadium. ' Rises as one approaches the city center. " Rises as one approaches the mountains. Question 59 1 pts The notion that borrowing to finance a new stadium in a community does not lessen the tax burden on a community; rather, it simply delays the inevitable, as it substitutes taxes now for taxes later when it repays the debt is known as the in economics. Ramsey Rule. Marginal Analysis Rule. Equivalence Theorem. Liquidity Trap. Question 60 1 pts Measures of economic profits include opportunity costs, whereas measures of accounting prots do not. Question 61 1 pts In deciding whether to invest in a stadium, a municipality will consider the of an investment in the stadium. With this, the municipality will consider whether an investment made today, will generate sufficient income over the life of the project to equal or exceed its initial investment. O Internal Rate of Return O Future Value Opportunity Cost O Present Value