Suppose That Oprah Winfrey Was Not a Superstar, Then She

question 260

Multiple Choice

Suppose that Oprah Winfrey was not a superstar, then she would have been a judge making $100,000 per year. If she makes $65 million dollars this year, her economic rent is

• A) $65.0 million.
• B) $65.1 million.
• C) $100,000.
• D) $64.9 million.

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Definitions:

Interest Payment

The amount paid over a period for borrowing money or delaying the repayment of a debt, typically expressed as an annual percentage of the principal.

Maturity Date

The date on which a financial obligation or investment becomes due for payment or expires, marking the end of its term.

Bank Loan

A bank loan is a sum of money lent by a bank to a borrower at an agreed interest rate and repayment schedule.

Promissory Note

A written promise to pay a specified sum of money to a designated person or bearer at a fixed or determinable future time.