Karl Marx believed that inevitably there would be a clash between ____________ and _____________, leading to an overthrow of capitalism.
Fill in the blank(s) with the appropriate word(s).
capitalists; workers
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The self-correcting tendency of the economy means that rising inflation eventually eliminates:
A. unemployment. B. exogenous spending. C. recessionary gaps. D. expansionary gaps.
It can be shown that average revenue and price are always equal.
Answer the following statement true (T) or false (F)
Ariana withdrew $400,000 out of her personal savings account and used it to start her new Internet cafe. The savings account pays 3 percent interest per year. During the first year of her business, Ariana sold 2,000 cups of coffee for $2.50 per cup and 4,000 hours of Internet time, also at $2.50 per hour. During the first year, the business made monetary outlays of $9,000 . You may assume that
there is no opportunity cost to Ariana's time. Ariana's accounting profit for the year was a. $-394,000. b. $-6,000. c. $6,000. d. $12,000.
Suppose you purchased 100 shares of stock in 2016 for $25 a share and you sell them today for $30 a share. If the capital gains tax is 30 percent, your tax liability is
A. $70. B. $150. C. $500. D. indeterminate without knowing the inflation rate.