92. What is the reason why land-owners can demand rent?
93. Explain and illustrate the distinction between rent and profits. In what cases are they nearly indistinguishable?
94. It has often been observed that in America land is much less highly cultivated than in England. Explain the economic reasons for this.
95. How does the theory of rent apply in a country like the United States, where the farmer owns his land instead of hiring it?
96. How is it that some agricultural capital pays rent, even if resort is not had to different grades of land?
97. Give a brief description of the theory of rent, and point out to what payments not usually called rent the theory may be applied.
98. State briefly Ricardo's theory of rent, and show that, if it be true, the following statements of Adam Smith must be false:
“The most fertile coal-mine regulates the price of coals at all the other mines in the neighborhood.”
“In the price of corn one part pays the rent of the landlord, another pays the wages, and another the profit of the farmer.”
99. Why does the farming business pay rent, and the cotton business (ground-rent excluded) pay none? Define rent.