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Q. State the Marginal Productivity Theory. What are its features and assumption?
Marginal Productivity Theory of distribution states that in a capitalist economy the demand for a factor of production will depend upon its Marginal Product. Features- 1. The remuneration for the factor of production is determined by the supply and demand of that factor 2. Demand for the factor of production is derived from the demand for the things it helps to produce 3. Demand by a firm for a factor of production is the Marginal productivity schedule of the factor Assumptions- 1. There is perfect competition for both the commodity and factor markets 2. All factors of production are perfectly mobile 3. The technique of production is assumed to be constant 4. The law is based on the operation of the law of diminishing returns 5. The different units of a factor are assumed to be homogeneous 6. all units of the factors are employed and no factor will offer its services for any remuneration less than market price.
Real Exchange Rates (EXCH) is the next variable that will be analysed in this VAR. The reason for including exchange rates in the VAR is that they are an important channel through
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Over long spans of time, macroeconomies typically grow, but over short spans there are fluctuations in output and prices known as ____ ?
An investor has a choice of 2 investment opportunities. The first investment yields a gain of $2800 with probability of 0.37, a gain of $1100 with probability of 0.27, and otherwis
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You have 300 right now. You invest into an account and 12 years later your investment will be 8 times of the initial investment. What the investment rate if a) The bank pays sim
Component of balance payment: BOP is a statement that summarises all the economic transactions between residents (individuals, companies and other organisations) of the home
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