Recall Application 7, "Lack of Property Rights Hinders Growth in Peru

Recall Application 7, "Lack of Property Rights Hinders Growth in Peru," to answer the following questions:
-According to the application, the lack of clear ownership of land prevents development because:

A) owners of land are more willing to make long term investments on the land that is not clearly theirs.
B) land without clear property rights are harder for the government to tax.
C) land without clear property rights less more valuable.
D) owners of the land cannot use the land as collateral when borrowing.