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Which one of the following would economists classify as land?
Monthly Compounding
Interest calculation method where interest is added to the principal sum every month.
Auto Insurance
A policy purchased by vehicle owners to mitigate costs associated with getting into an auto accident.
Nominal Interest Rate
The stated or face interest rate on a loan or financial product, not accounting for inflation or compounding.
Monthly Compounded
The process whereby interest is calculated on a principal sum and previously accumulated interest on a monthly basis.
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