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asjstr asjstr
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4 years ago

Question 1.

The marginal productivity theory of income distribution was developed by



▸

John Bates Clark.



▸

William Stanley Jevons.



▸

Edward Lazear.



▸

George Akerlof.



Question 2.

The marginal productivity theory of income distribution states that



▸

as more and more units of labor are added to a fixed quantity of capital, eventually labor's contribution to a firm's income will decrease.



▸

factors of production in short supply command higher prices than those available in abundant quantities.



▸

income distribution is determined by the marginal productivity of the factors of production that individuals own.



▸

capital owners receive the bulk of a nation's income because capital-intensive production generates productivity gains.

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InMicro

InMicro


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gturgtur
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4 years ago
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