Lesson 3: The Dog in the Manger Stuff to read: The Dog in the Manger — A Case Study: New York City Please enable JavaScript in your browser to complete this form.Your NameYour Email *1. In a modern economy, land speculation (6 pts.) plays a central role in markets of all kinds.has less influence today than it did in the 19th century.is a risky game that only the rich can afford to play.has little effect on most investment decisions.2. How does land speculation decrease overall production? (7 pts.)3. In the United States today, overall population density is (6 pts.) very low.placing ever-greater stress on urban infrastructure.only a problem in area with high numbers of immigrants.rapidly increasing.4. The widespread availability of low-interest home mortgages (6 pts.) increases the economic influence of land speculation.spreads the overall fund of land rent among a larger pool of investors.tends to cause less rental housing to be built.All of the avove.5. Describe how land speculation leads to widespread waste of capital. (7 pts.)6. How does the private ownership of land lead to poverty? How is this tendency mitigated in modern, diversified economies? (7 pts.)7. What did the $24 "sale" of Manhattan represent to the Lenni Lenape Indians? (7 pts.)8. Which of the following would NOT result from putting all valuable unused land to its best economic use? (6 pts.) Development would expand onto land previously used for farming.Anti-pollution targets would be easier to meet.Usable land would become available at little or no cost.Immigrants would be welcomed.9.When large amounts of land are inefficiently used, (6 pts.) highly productive workers are hindered and constrained.transportation takes too much time and money.infrastructure funding is difficult and controversial.environmental sustainability is impossible to achieve.All of the above.10. How did John Jacob Astor's land investments contribute to the development of New York City? (7 pts.)11. What role did land values play in the decline and subsequent rise of various New York neighborhoods? (7 pts.)12. What is the most sensible and sustainable way to pay for a public transit system? (7 pts.)13. What business provides the majority of McDonalds Corporation's profits? (7 pts.)14. Why is New York City willing to provide billions of dollars in subsidies to the Hudson Yards developers? (7 pts.)15. How does the example of the parking lot, then hotel, at Park Avenue and 28th Street illustrate the true social cost of land speculation? (7 pts.)WebsiteSubmit Lesson 3
