imagine a fictional caribbean island called san lorenzo. suppose a hurricane hits the island and destroys some of the capital stock, thankfully leaving the labor supply intact. use the neoclassical theory of distribution to explain the effects of the disaster in the long run on the market for capital and the market for labor.
Please help, I've been stuck on this for hours and it's due tomorrow.
capital stock would be the capital, like buildings and machines that the companies have.
Please help, I've been stuck on this for hours and it's due tomorrow.
capital stock would be the capital, like buildings and machines that the companies have.