If 1 - b = WN/PY where W is the nominal wage rate, N is the quantity of labor input, and PY is total income in nominal terms, then labor's share of national income grows if
A) (w - p) > (y - n).
B) (w - p) < (y - n).
C) (w - n) > (y - p).
D) (w - n) < (y - p).
A
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Draw a graph showing the concept of functional distribution.
What will be an ideal response?
The countries that have made the least use of securities markets are ________ and ________; in these two countries finance from financial intermediaries has been almost ten times greater than that from securities markets
A) Germany; Japan B) Germany; Great Britain C) Great Britain; Canada D) Canada; Japan
The economic principle of _________________ implies that the value of the subject property is determined by the price that market participants would pay to acquire a substitute property of similar utility and desirability,
Fill in the blank(s) with the appropriate word(s).
Figure 5-16
In Figure 5-16, Adam is
a.
better off at C than at D and able to afford either C or D.
b.
better off at D than at C but only able to afford C.
c.
equally well off at C and D and able to afford either C or D.
d.
equally well off at C and D but only able to afford C.