The Neoclassical Theory of Distribution

question 147

Multiple Choice

The neoclassical theory of distribution:

• A) was developed by Karl Marx.
• B) is rejected by most economists today.
• C) shows that the national income of an economy is not equal to total output.
• D) is a theory of how national income is divided among the factors of production.

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Definitions:

Skewed Distribution

A statistical term for a distribution where the bulk of values are located on one side of the mean, resulting in a lack of symmetry.

Degree Of Variation

Degree Of Variation refers to the extent to which values of a particular variable or trait differ from each other in a set of data or population.

Standard Deviation

A measure of the amount of variation or dispersion in a set of values, often used in statistics.

Distribution Of Scores

Refers to the way in which scores are spread out or distributed across a range in a dataset.