The chapter states that households own all the factors of production in the economy and receive income

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The chapter states that households own all the factors of production in the economy and receive income from them. Explain why this is true.

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Macroeconomics

ISBN: 9780132109994

1st Edition

Authors: Glenn Hubbard, Anthony Patrick O'Brien, Matthew P Rafferty

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Question Posted: Feb 04, 2016 06:35 AM

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The chapter states that households own all the factors of production in the economy and receive income

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All factors of production such as land labor and c...View the full answer

Macroeconomics

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