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In macroeconomics, the classical dichotomy is the idea, attributed to classical and pre-Keynesian economics, that real and nominal variables can be analyzed separately. To be precise, an economy exhibits the classical dichotomy if real variables such as output and real interest rates can be completely analyzed without considering what is happening to their nominal counterparts, the money value ...
Labour economics seeks to understand the functioning and dynamics of the markets for wage labour. Labour is a commodity that is supplied by labourers , usually in exchange for a wage paid by demanding firms.
In economics, distribution is the way total output, income, or wealth is distributed among individuals or among the factors of production (such as labour, land, and capital). [1] In general theory and in for example the U.S. National Income and Product Accounts , each unit of output corresponds to a unit of income.
Answers to the argument (of economists such as Farooq) that lenders of money are due some kind of rent-like compensation; [262] and to the question of why charging extra to finance a purchase (in, for example, murabaha Islamic finance) is allowed, but in lending cash it is riba, [Note 52] [413] can be found (supporters believe) in the "Islamic ...
Naked Economics: Undressing the Dismal Science is a book by Charles Wheelan that seeks to translate basic economic issues into a format that can be easily read by people with little or no previous knowledge of economics.