Business, 28.06.2020 07:01, daniel1480

Use the neoclassical theory of distribution to pre- dict 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 pro- duction 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 pre- dict the impact on the real wage and the real re...