Which of the following statements is correct?
A) Rent performs an incentive function, but not a rationing function.
B) Wage rate does not perform an incentive function in the supply of labor.
C) Profits are payments to capital resource owners.
D) Demand is the "active," and supply the "passive," determinant of land rent.

Question

Quizplus · Accepted Answer

The Answer of Which of the following statements is correct?
A) Rent performs an incentive function, but not a rationing function.
B) Wage rate does not perform an incentive function in the supply of labor.
C) Profits are payments to capital resource owners.
D) Demand is the "active," and supply the "passive," determinant of land rent.

Which of the Following Statements Is Correct