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1 . Use the neoclassical theory of distribution to predict the impact on the real wage and the real rental price of capital of each

1. Use the neoclassical theory of distribution to predict the impact on the real wage and the real rental price of capital of each of E the events described below. Assume that production follows a Cobo-Douglas production function.Macra. If a wave of immigration increases the labor force, then the real wage would capital would, and the real rental price ofb. If high inflation doubles the prices of all factors and outputs in the economy, the real wage would , and the real rental price of capital would

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