Asked by Siqian Chang on May 12, 2024
Verified
Changes in land rents in the United States are chiefly the result of
A) changes in the demand for land.
B) increased land fertility.
C) production of new land.
D) changes in the supply of lanD.
Land Rents
Payments made for the use of land, reflecting the value attributed to location and fertility in agricultural or real estate markets.
Changes
Alterations, modifications, or transformations in conditions, situations, or objects over time.
- Acquire insight into the elements and ramifications of land value and supply.
Verified Answer
RP
Rabindra PatraMay 15, 2024
Final Answer :
A
Explanation :
Changes in land rents in the United States are primarily driven by changes in the demand for land, as the supply of land is relatively fixed and cannot be easily increased.
Learning Objectives
- Acquire insight into the elements and ramifications of land value and supply.