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MMLU-Pro / 6848 / Distinguish between the transfer earnings of a piece of land andeconomic rent on…

Problem

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question

Distinguish between the transfer earnings of a piece of land andeconomic rent on a piece of land.

category

economics

options

  1. Transfer earnings and economic rent are the same
  2. Transfer earnings are the price of land, while economic rent is the cost of using the land
  3. Transfer earnings are what the land would earn in its best alternative use, while economic rent is anything paid over and above the transfer earnings.
  4. Transfer earnings are the cost of land, economic rent is the revenue from land

src

stemez-Economics

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