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Name the three major factors of production.
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Discuss four reasons to study factor pricing.
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Which of the three major factors of production has the largest share and which has the smallest?
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What makes land different from most other factors of production?
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Define pure economic rent.
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Illustrate how rent is determined in the market.
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Illustrate the Corn War debate. What was David Ricardo’s explanation for rapidly rising grain prices?
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Explain why Henry George advocated a single tax on land.
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Prove that a tax on pure economic rent will result in no distortions or allocative inefficiencies.
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What is tax incidence analysis?
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What are the major criticisms of Georgist Theory?
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Why does an acre of farmland in Iowa cost so much more than an acre of farmland in New Mexico?
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Illustrate the rent differentials that might arise from differences in the quality of land and its productivity.
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Illustrate the concept of quasi-rents.
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What is rent seeking? Provide an example from public policy.
