The Minimum Rate of Return or Payment Necessary to Keep

question 141

Multiple Choice

The minimum rate of return or payment necessary to keep an entrepreneur in some specific enterprise is referred to as

• A) the pure rate of interest.
• B) the real interest rate.
• C) economic profit.
• D) normal profit.

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Definitions:

Property Tax

A levy on property that the owner is required to pay, usually collected by local government.

Assessed Value

The dollar value assigned to a property for purposes of measuring applicable taxes.

Property Tax

A levy imposed by a government on a property owner, based on the value of the property.

Mill Rate

The amount of property tax per $1000 value.