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.)
How is a shift in demand reflected in a demand equation? How is a shift in supply reflected in a supply equation? How is a movement along a demand (supply) curve reflected in a demand (supply) equation?
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According to Adam Smith nation's wealth is, not the gold this possesses, but somewhat it’s: (1) number of people. (2) capability to give goods for its people. (3) foreign investments. (4) domestic financial capital. (5) militar
Write short note on Demand?
Adam Smith would have agreed mostly along with the concept which wages are: (i) positively associated to physical comfort when working. (ii) negatively related to the cost of learning the business. (iii) positively associated to the s
Adam Smith known three advantages rising from divisions of labor which would lead to greater economic wealth that did not include the concept that the division of labor: (w) helps every worker refine specialized skill
Give a brief introduction of the term Control Factor?
Question: Suppose three identical firms are engaged in Cournot competition in quantities. They all have marginal costs equal to 40. Market demand is given by: Q : Define Direct and inverse relationships Define Direct and inverse relationships?
Define Direct and inverse relationships?
Adam Smith and most of the typical economists who followed instantly in his footsteps: (i) viewed monopoly as no big problem. (ii) encouraged monopolies due to their research and development abilities. (iii) thought monopoly power was a communist plot
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