Economic rent is
A) the return to owners of farmland.
B) the return to landlords.
C) a payment for the use of any resource above its opportunity cost.
D) a payment for land, an apartment, or a house that one does not own.
Answer: D) a payment for land, an apartment, or a house that one does not own.
Economics
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In the economic way of thinking, traffic congestion is a sign of
A) a surplus of people. B) a surplus of automobiles. C) a shortage of buses. D) a negative externality.
Economics
If you own a $1,000 face value bond with one year remaining to maturity and a 3 percent coupon rate and new bonds are paying 14 percent, what is the most you can get for your old bond?
A) $903.51 B) $997.19 C) $1,000 D) $1,140
Economics