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The Distribution of the Dependent Variable Determines Which Marginal Total

question 61

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The distribution of the dependent variable determines which marginal total will serve as a base for computing percentages.


Definitions:

Wage, Rent

Wage refers to the payment to labor for its contribution to production, while rent is the payment for the use of land or property.

Entrepreneurial Ability

The human resource that combines the other economic resources of land, labor, and capital to produce new products or make innovations in the production of existing products; provided by entrepreneurs.

Laissez-Faire Capitalism

is an economic system where transactions between private parties are free from government intervention, such as regulations, privileges, tariffs, and subsidies.

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