Assignment
Discuss the neoclassical theory of distribution. (75 words)
How does the neoclassical theory of distribution explain, for example, why computer programmers are paid more than gas station attendants? (75 words)
Discuss how economists measure income inequality. (75 words)
How severe is income inequality in the U.S.? (75 words)
How does income inequality in our economy compare to the rest of the world? (75 words)
Discuss the term derived demand. (75 words)
Discuss the term factors of production and the three most important factors of production. (75 words)
Discuss the basic theory for the analysis of factor markets. (75 words)