3. King, _Wealth and Income of the People of the United States_,
chapter vii.

4. Thompson, _Elementary Economics_, chapters xx to xxiv inclusive.


QUESTIONS ON THE REQUIRED READINGS

1. What is meant by non-competing groups? (Thompson, page 296.)

2. What are the chief causes of the difference in wages in different
occupations? (Carver, page 268.)

3. Upon what factors does the efficiency of the laborer depend?
(Thompson, page 303.)

4. What is the functional theory of wages? (Carver, pages 261--262.)

5. Have wages increased or decreased since 1850? (King, page 173.)

6. What is the relation of risk to interest? (Thompson, pages 351--
353.)

7. What is meant by the term "unearned increment"? (Thompson, pages
335--337.)

8. Define profits. (King, pages 155--156.)

9. Have profits increased since 1880? (King, page 177.)