Karl Marx and Friedrich Engels said
A. "The theory of the Communists may be summed up in the single sentence: Abolition of private property."
B. "The vice of capitalism is that it stands for the unequal sharing of blessings; whereas the virtue of socialism is that it stands for the equal sharing of misery."
C. "It is not the employer who pays wages-he only handles the money. It is the product that pays wages."
D. "Capital is past savings accumulated for future production."
A. "The theory of the Communists may be summed up in the single sentence: Abolition of private property."
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"Mismatch" unemployment is another name for ________ unemployment
A) frictional B) structural C) cyclical D) natural
Refer to the accompanying figure.
Based on the figure, if the economy is in short-run equilibrium with output equal to 24,000, then there is ________, and ________ could return the economy to potential output (Y*).
A. an expansionary gap; a decrease in autonomous expenditures of 4,000 B. a recessionary gap; an increase in autonomous expenditures of 1,000 C. a recessionary gap; an increase in autonomous expenditures of 4,000 D. an expansionary gap; a decrease in autonomous expenditures of 1,000
On which of the following assets are you most likely to earn interest income?
A. Cash and currency B. Checkable deposits C. Money market deposit accounts D. Gold and other precious metals E. All of these responses are correct.
When there is an external benefit, the unregulated market
A) overproduces the good or service. B) underproduces the good or service. C) reaches the most efficient solution. D) maximizes public welfare.