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Explain important terms of marginal productivity and wage inequality
Marginal Productivity and Wage Inequality:
a. Market power
• Compensating Differentials
• Danger/Unattractiveness of Job
• Talent/Human Capital
b. Unions
Collective Bargaining
c. Efficiency-wage model
Nanny Example
d. Discrimination.
NATIONAL INCOME AND WELFARE The relationship between National Income and Welfare is best explained in terms of economic growth (By economic growth is meant capacity expansio
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Supply-side policies Supply-side policies are intended to increase the economy's potential rate of output by increasing the supply of factor inputs, such as labour inputs and
demand for sting ray
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A hypothetical AD-AS model for Canada During the 1990s, many stock market investors in Canada became optimistic about information technology and bid up stock prices, more t
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