2. If someone offered you $1000 in 20 years or $100 today, you would
want to calculate the [Select]
of the $1000
to compare it to the $100 today, OR you could calculate the
[Select]
of the $100 today to see how much
it would be in 20 years and compare it to the $1000.
3. A semi-famous economist named Henry George proposed a steep
tax on land, since land is not "produced" but is "discovered." Land
can be used by entrepreneurs to become productive, so land owners
shouldn't be rewarded for discovering land. His idea was that land
does not have an opportunity cost in this context, so the value
derived from land would be [Select]