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.)
Suppositions underpinning simple production possibilities frontier models don’t comprise a need that: (i) Net resources are fixed. (ii) All resources are efficiently employed. (iii) Technology is steady. (iv) Resource owners are paid according t
Give a brief introduction of the term Risk Principle?
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Define the term Abstractions in economics?
Writ short note on the Income of personal distribution?
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Question: Do raising tax rates necessarily raise tax revenue? What factors affect how tax revenue changes when tax rates change? Using the 'human capital' investment model,
What happens to the supply curve when each of these determinants changes?
Illustrate the changes in Demand, Supply and Equilibrium?
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