Which Statement Is True About Economic Rent

question 137

Multiple Choice

Which statement is true about economic rent?

• A)It doesn't exist.
• B)Every jobholder earns it.
• C)No jobholder earns it.
• D)Professional athletes generally earn it.

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Definitions:

Dual Federalism

A political arrangement in which power is divided between federal and state governments in clearly defined terms, with state governments exercising those powers accorded to them without interference from the federal government.

Concurrent Powers

Concurrent powers are political powers that are shared by both the federal and state governments in the United States, including the powers to tax, build roads, and create lower courts.

Grants-in-Aid

Financial contributions provided by the federal government to state or local governments for specific projects or programs, often with conditions attached to their use.

Dual Federalism

A political arrangement in which state governments and the national government each have distinct and separate powers.