Answer:
Check the explanation
Explanation:
Kingman view of inequality is based on individual worker. His concept of inequality can be described as follows:
He believes that individual' s productivity differs from individuals to individuals There may be individuals that are highly productive and can make best possible use of the available resource as compared to other. This constitutes one of the main reasons for huge inequality.
He also described inequality based on luck There may be individuals with same productive capacity It is just the matter of luck to be on right place at right time to grab the jackpot.
He also described inequality based on powers in this he described that executives in big corporations set their own compensation and there may be financial dealers getting richer by taking fees from the investors that are new in the market.
Lucas view of inequality can be described as follows:
Lucas view of inequality is variant of Solow model describing different countries growing at different period of times the one that kick start first will grow but nation starting to prosper later will grow more because of favorable environment created by the earlier growing nations.
Thus Lucas model indicates that different countries having different growth rates and will fail to converge and there forms the concept of inequality among nations.
The similarities in the view point of inequality between Kingman and Lucas is on the topic of human capital development.
Keynesian was of the viewpoint that fiscal policy will put the economy out from the situation of liquidity trap Thus there are some stimulus that are a must but however Lucas was monetarist and believes that final stimulus will not work if there is no printing of money.
Lucas prediction if true then money supply in economy will increase because of printing of more number of money. Rise in money supply will create the situation inflation because too much of money will be chasing too few goods which will lead to rise in price further and thus there will be no significant changes in the income inequality.
Answer: c. the output effect and the discount effect.
Explanation:
The output effect is how firms with market power control their production in honest to make profit.
A firm with market farm will have to reduce it's marginal revenue curve to increase sales.
The marginal revenue will therefore be below the Demand curve to show that the marginal revenue has to be reduced for a team to sell more goods.
An agreement between private parties creating mutual obligations enforceable by law. The basic elements required for the agreement to be a legally enforceable contract are: mutual assent, expressed by a valid offer and acceptance; adequate consideration; capacity; and legality.
Answer:
Net worth is the measure of the wealth of an entity, person, or corporation, as well as sectors and countries. Simply, net worth is defined as the difference between assets and liabilities. It is an important metric to gauge a company's health and it provides a snapshot of the firm's current financial position.
Answer:
Collection from Customers =$487,000
Explanation:
Collection from Customers=account receivable beginning balance+sales revenue-account receivable ending balance
=97000+$519,000-$65,000
=$487,000
