Business, 01.11.2019 06:31 jaimevalenzuela60

Use the neoclassical theory of distribution to predict the impact on the real wage and the real rental price of capital of each of the following events: a. a wave of immigration increases the labor force. b. an earthquake destroys some of the capital stock. c. a technological advance improves the production function. d. high inflation doubles the prices of all factors and outputs in the economy.

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Use the neoclassical theory of distribution to predict the impact on the real wage and the real rent...