Describe the Functional distribution of income
Describe the Functional distribution of income?
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1. Wages and salaries are 70 percent of total.
2. Income of Proprietor is under 10 percent of total that the income to self employed business owners, doctors, lawyers, etc. This is a combination of wage and profit income.
3. Less than one-fifth of total of Corporation profits, Capitalist income, interest, rent. (Note: rent may be negative because of the depreciation charged against rental income.)
Explain the statement: “Good economic policy requires good economic theory.”?
Illustrate Market Equilibrium of Supply and Demand?
To be productively efficient, a country should: (w) maximize the satisfaction attainable from its budget. (x) be concerned only with macroeconomic analysis. (y) concentrate on removing scarcity. (z) maximize the value of output produced through specif
Why Public or social goods not be produced through the market?
What is the opportunity cost of attending college? In 2000, nearly 80% of college-educated Americans held jobs, whereas only about 40% of those who did not finish high school held jobs. How might this difference relate to opportunity costs?
Briefly describe the term cost of capital and also illustrate out its significance?
From the heterodox approach, what options does the enterprise need to produce more output? What effect do these options put on its cost structure?
Distinguish between a change in demand and a change in the quantity demanded?
Illustrate the complex cases when both supply and demand shift?
Can you explain how different government policies with respect to the recycling of aluminum and paper might account for these different market outcomes?
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