An Outward Shift in the Demand Curve for Land Will

question 116

Multiple Choice

An outward shift in the demand curve for land will

• A)make previously zero-rent land profitable.
• B)induce people to begin to use land more extensively.
• C)force reductions in rents.
• D)be accompanied by a shift in the supply of land.

---

Definitions:

Interest Rate

The percentage at which interest is paid by borrowers for the use of money they borrow from lenders.

Statute of Frauds

A legal principle requiring certain contracts to be written and signed to be enforceable, aimed at preventing fraud.

In Writing

The term "in writing" refers to the requirement that certain agreements, contracts, or notices be recorded on paper or in a digital format to ensure legality and enforceability.

Guarantee

A formal assurance, typically by one party to another, that certain conditions will be fulfilled, including quality, performance, or durability of a product or service.