Karl Marx believed in which of the following?
A. Controlling political power was more important than controlling the ownership of capital with respect to dominating a society.
B. In capitalist societies, a business owner makes huge profits by raising workers wages.
C. Whoever controlled a society's labor supply controlled that society.
D. Inevitably there would be a clash between capitalists and workers.
D. Inevitably there would be a clash between capitalists and workers.
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Suppose that the total production of an economy consists of 10 oranges and 5 candy bars, each orange sells for $0.20, and each candy bar sells for $1.00. What is the market value of production in this economy?
A. $7.00 B. $1.20 C. $2.00 D. $5.00
Which of the following is an example of a disincentive?
A. Law enforcement creates a "Mug Shots" section online in order to discourage potential law breakers. B. You offer workers a bonus if they sell 100 widgets per month. C. A local gym offers a weight loss competition and the winner earns a free trip to Bermuda. D. Your professor offers to edit your paper before it's graded if you turn it in early.
Determine the deposit/refund amount that achieves an efficient solution.
State officials are establishing a deposit/refund system for batteries. Marginal costs and benefits have been estimated to be: MPC = 5 + 0.5Q MPB = MSB = 20 – 0.5Q MSC = 5 + 0.7Q, whereQ is in millions, and the marginal cost and benefit values are in dollars per battery.
When an economy is operating well below its full-employment capacity and the marginal propensity to consume is 0.75, a $10 billion increase in investment spending will cause the equilibrium output to rise by:
A. $5 billion. B. $10 billion. C. $20 billion. D. $40 billion.