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According to macroeconomics, what is the determination and distribution of income and output?
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- Anonymous7 years agoFavorite Answer
The income is determined by the value of final goods produced in the country within a year. It will depend on the production function and production elasticity, means an increase in inputs can cause economies, diseconomies or constant return to scale. The share of income is determined by the share of wage, rent,dividend, interest in total income.
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