How far in the the future can one pay ones rent?

1 Answer

Answer :

Why ?

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Description : Which of the following statements is correct? (1) Most workers will work for less than their reservation wage. (2) The reservation wage is the maximum amount any firm will pay for a worker. (3) ... reservation wage. (4) Economic rent is the amount one must pay to enter a desirable labour market.

Last Answer : (3) Economic rent is the difference between the market wage and the reservation wage. Explanation: The difference between the actual market wage and the reservation wage is called economic rent. Therefore ... per-son becomes unemployed (The Goals of Macroeconomic Policy by Martin Prachowny. p. 58).

Description : A, B and C rent a land. A puts 10 tractors for 7 months, B puts 12 tractors for 5 months and C puts 15 tractors for 3 months . If the rent of the land is Rs. 175000, how much must C pay as his share of rent? A.45000 B.50000 C.57000 D.64000

Last Answer : Answer – A (45000) Explanation – A : B : C = 10 x 7 : 12 x 5 : 15 x 3 = 70 : 60 : 45 = 14 : 12 : 9. ∴ C’s rent = Rs. [175000 x 9/35] = Rs. 45000.

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Description : Which of the following statements is correct ? (1) Most workers will work for less than their reservation wage. (2) The reservation wage is the maximum amount any firm will pay for a worker. (3) ... reservation wage. (4) Economic rent is the amount one must pay to enter a desirable labour market. 

Last Answer :  Economic rent is the difference between the market wage and the reservation wage.