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Q: circular flow model
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A:
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- do you not have to take the income forgone in the time spent raising each child to adulthood, defined by z into account?Summarize changes to the distribution of income since 1980. Is is analysis positive or normative? Why?Using the basic circular flow model, explain whythe value of businesses’ output of goods andservices equals the income of households.
- Studies indicate that married men on average earn more income than unmarried men of the same age and education level. Why must we be cautious in concluding that marriage is the cause and higher income is the effect?How does the IS-IM model shift in regards to the implementation of universal basic income?What is the individual’s human wealth? Total wealth?