Figure 9.2 represents the U.S.labor market.Assume that labor and capital are the only factors of production.Also assume the initial supply schedule of labor is denoted by S0 and consists entirely of native U.S.workers.The demand schedule of labor is denoted by D0.
Figure 9.2.U.S.Labor Market
-Consider Figure 9.2.At labor market equilibrium,the payment to U.S.capital owners equals:
Definitions:
Limbic System
A complex system of nerves and networks in the brain, involved in instinct and mood control, governing emotional behavior.
Implicit Memory
A type of memory that enables individuals to perform tasks without conscious awareness of these previous experiences.
Explicit Memory
The type of long-term memory that involves conscious recollection of facts and experiences.
Neural Activity
The electrical and chemical processes within neurons that allow the brain and nervous system to function.
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