What does the phrase "Money is the product of labour" mean in economics?

What does the phrase "Money is the product of labour" mean in economics?
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It means that human capital is necessary for the basic component of wealth creation. Sure, you get a return by renting something out, but some human capital went into creating whatever you’re renting out. You have to put some labor into making the investment decision. Monetary capital without labor doesn’t expand the economy.
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Description : Which of the following statements is correct? (1) Most workers will work for less than their reservation wage. (2) The reservation wage is the maximum amount any firm will pay for a worker. (3) ... reservation wage. (4) Economic rent is the amount one must pay to enter a desirable labour market.

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Description : The demand for labour is called - (1) Market demand (2) Direct demand (3) Derived demand (4) Factory demand

Last Answer : (3) Derived demand Explanation: The demand for labour is "derived- from the production and demand for the product being demanded. If the demand for the product increases, either the price will ... price and production numbers are met. Labour is "derived" from the market demand for the product.

According to Modern Theory of Rent, rent accrues to - (1) capital only (2) any factor (3) labour only (4) land only

Description : According to Modern Theory of Rent, rent accrues to - (1) capital only (2) any factor (3) labour only (4) land only

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Description : The four factors of production are - (1) land, labour, capital, organisation, (2) land, electricity, water, labour (3) labour, capital, land, rainfall, (4) labour, climate, land, tools,

Last Answer : (1) land, labour, capital, organisation, Explanation: Factors of Production is an economic term to describe the inputs that are used in the production of goods or services in the attempt to ... -made resources), and (iv) Enterprise (which brings all the previous resources together for production).

Enterpreneurial ability is a special kind of labour that - (1) is hired out to firms at high wages (2) organizes the process of production (3) produces new capital goods to earn interest (4) manages to avoid losses by continual innovation

Description : Enterpreneurial ability is a special kind of labour that - (1) is hired out to firms at high wages (2) organizes the process of production (3) produces new capital goods to earn interest (4) manages to avoid losses by continual innovation

Last Answer : (2) organizes the process of production Explanation: In economics, factors of production are the inputs to the production process. Factors of production' may also refer specifically to the 'primary factors', ... the other factors of production, land, labor, and capital, in order to make a profit.

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Which among the following has the least possibility of globalization? (1) selection of labour force (2) location of capital works (3) to manage resources for investment (4) increase in infrastructure

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Description : Capacity utilization - (1) is usually near 100 percent. (2) represents the percent of the labour force that is employed. (3) is a measure of the proportional of the existing capital ... into a recession, since firms must replace unemployed workers with some other resources to maintain production.

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In spade farming for intercultural operation — is used a. Power operated instruments b. Manual labour c. Bullock power d. None of these

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Quasi-Rent arises from (a) Land (b) Labour (c) Capital (d) Factors whose supply in the short run is inelastic.

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Backward bending supply curve is related to which of the following factors of production ? (a) Labour (b) Capital (c) Land(d) Entrepreneur

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Description : Who propounded the theory of unlimited supply of labour ? (a) Schumpeter (b) Rosestien Rodan (c) Mill (d) Lewis

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