Which statement is true?
A. The highest paid professional athletes earn economic rent.
B. Economic rent is paid on land, but not in the form of wages.
C. Economic rent is earned mainly by the poor and the lower middle class.
D. Economic rent is paid in proportion to the marginal revenue product of a resource.
A. The highest paid professional athletes earn economic rent.
You might also like to view...
Government purchases currently take up about
A) 20 percent of U.S. GNP, and this share has not changed much since the late 1950s. B) 38 percent of U.S. GNP, and this share has not changed much since the late 1950s. C) 18 percent of U.S. GNP, and this share has been increasing since the late 1950s. D) 18 percent of U.S. GNP, and this share has been decreasing since the late 1950s. E) 25 percent of U.S. GNP, and this share has been decreasing since the late 1950s.
The aggregate demand curve shifts due to changes in consumption expenditures, investment expenditures government spending, and net exports
a. True b. False Indicate whether the statement is true or false