Economics (AS & A Level) · May / June 2024 · Paper 32 · Question 15

9708Labour market forces and government intervention

The diagram shows the labour market for farm workers in New Zealand. Which areas represent the economic rent and transfer earnings of the farm workers?

Aeconomic rent GFK; transfer earnings GHOJ
Beconomic rent GHOJ; transfer earnings GJK
Ceconomic rent GJK; transfer earnings GJF
Deconomic rent GJK; transfer earnings GHOJ

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Correct answer: D. economic rent GJK; transfer earnings GHOJ

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