What is the level of profits when four units are produced?
a. 40
b. 70
c. -30
d. 20
d
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Public goods are both rival and nonexclusive
a. True b. False
Wealth is measured as
A. A flow only. B. Neither a flow nor a stock. C. Both a flow and a stock. D. A stock only.
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.
If average labor productivity decreases while population and the number of employed workers remain constant, then total output:
A. increases. B. decreases. C. may increase or decrease. D. remains constant.