Karl Marx believed in all of the following, except
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 exploiting his workers.
C. one's social consciousness was determined by one's relationship to the means of production.
D. inevitably there would be a clash between capitalists and workers.
A. controlling political power was more important than controlling the ownership of capital with respect to dominating a society.
You might also like to view...
The unemployment resulting from wage rigidity and job rationing is called:
A. the natural rate of unemployment. B. the discouraged-worker effect. C. structural unemployment. D. insiders versus outsiders.
According to the principle of rational choice, a consumer should spend money on those goods which provide the most marginal utility per dollar.
Answer the following statement true (T) or false (F)
To know whether a particular situation for a family, business, or government involves an equilibrium or not, one must
A) understand the circumstances fully. B) determine whether the accounts are in balance. C) determine whether the credits equal the debits. D) determine whether a particular portion of the accounts are in balance or not.
Tim Tupper contracts with two other students to help him provide a term paper-typing service. In the last two weeks of the semester, he sees a tremendous increase in demand. His profit-maximizing response would be represented by
a. a rightward shift of the supply curve because it is possible to earn economic profits b. a rightward shift of the supply curve because the increase in demand is probably only temporary c. a reduction in supply to take full advantage of the increase in demand d. a movement up to the right along the supply curve because the increase in demand is probably only temporary e. an upward movement in horizontal demand curve he faces because now he can charge a lower price