Economic Rent Serves

question 32

Multiple Choice

Economic rent serves

• A) a descriptive function by making some wealthier than others, but serves no allocative function.
• B) an allocative function by guiding available supplies to the most efficient use.
• C) only to make the rich richer and the poor poorer.
• D) no useful function in a modern economy.

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Definitions:

Digest

A compilation or summary of legal or scholarly material, often used to find statutes and case law.

Reporter

An individual who investigates and reports on events, issues, or trends to the general public through various forms of media.

Specific Topics

Designated or particular subjects of discussion or analysis.

Restatements of the Law

A collection of uniform legal principles in the United States that aim to distill the common law and guide judges and lawyers in interpreting the law.