The Characteristic That Makes Economic Rent Distinct from Wages, Interest

question 74

Multiple Choice

The characteristic that makes economic rent distinct from wages, interest, and profit is that it is

• A)payment for a resource that is completely fixed in total supply.
• B)always expressed in dollars, never in percent.
• C)fixed by annual or monthly contracts.
• D)makes the supply of the resource increase if its rent rises.

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Definitions:

Nixon Administration

The period of U.S. governance under President Richard Nixon, notable for significant events like the Watergate scandal and Vietnam War policies.

Direct Payments

Cash transfers from governments or organizations to individuals, farmers, or businesses without any requirement for goods or services in return.

Federal Tax Receipts

The income received by the federal government from taxes, used to fund government spending and services.

Marginal Rate

The marginal rate often refers to the incremental or additional rate of change in a quantity or cost in response to a change in some other variable.