The concept of economic rent can be applied to
A) land only.
B) land and natural resources only.
C) land, natural resources, and paintings by dead masters only.
D) any resource that cannot be replicated exactly.
D
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Which of the following statements is (are) correct? During the existence of the Euro (1999-),
a. borrowing from abroad financed large excesses of merchandise imports over exports in the U.S. b. the United States has continued to be the world's largest debtor nation. c. the dollar initially appreciated but then depreciated strongly since 2001 against the euro. d. All of the above
Which of the following is a possible advantage of a free market condition? a. In a free market, consumers are offered discounts on the purchase of products
b. In a free market, all goods and services are offered for free to households below the poverty line. c. In a free market, continuous government intervention helps keep the price of products under control. d. In a free market, competition among sellers helps the consumers purchase a product at the lowest possible price. e. In a free market, consumers have limited products to choose from, thereby assuring less confusion and better quality.