Which of the following correctly identifies a difference between land and capital?
A) Land can be owned or rented by a firm, whereas capital cannot be owned.
B) Capital can be owned or rented by a firm, whereas land cannot be owned.
C) Land is created, whereas capital is a naturally occurring resource.
D) Capital is created, whereas land is a naturally occurring resource.
D
Economics
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An optimal corrective tax _____
a. falls as quantity produced increases b. is above the marginal external product c. is a lump sum tax d. helps to increase demand for the taxed product
Economics
Countries that grew the fastest over the last 100 or so years had average growth rates of real income per person of about
a. 1.5 percent per year. b. 2.0 percent per year. c. 2.5 percent per year. d. 3.0 percent per year.
Economics