Business, 13.02.2020 04:26 patienxel

In the United States, the labor share of national income has significantly declined since its peak in 1970. See the section 3-2 in the text for additional information. Offer your explanation for this trend. I suggest you frame your explanation in one of the following two ways: Option 1) using the conceptual theory in book, explain how/why factor prices for labor may have changed. Option 2) Explain why the conceptual theory in the book may be neglecting other important factors that determine the distribution of income. You do not need to write a comprehensive essay, a brief paragraph can be sufficient for full credit.

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