According to Karl Marx, surplus value is created when the capitalist _________________.
Fill in the blank(s) with the appropriate word(s).
exploits labor
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A severe freeze has damaged the Florida orange crop. The effect on the market for oranges will be a left shift of
A. demand, as consumers try to economize because of the shortage. B. both the supply and demand curves. C. the supply curve. D. the supply curve and a right shift in the demand curve, and the outcome will be a higher price
The redistribution of income creates the big tradeoff, which is a tradeoff between ________
A) income and wealth B) equity and efficiency C) rich and poor D) Supplementary Security Income and the Food Stamp program
Everything else held constant, a decrease in planned investment expenditure ________ aggregate ________
A) increases; demand B) decreases; demand C) decreases; supply D) increases; supply
Assuming that C + I + G > C + Ir + G, then
a. aggregate demand exceeds than output. b. unplanned inventories are negative. c. there is an unintended inventory accumulation. d. Both a and c e. None of the above