a) This economist argued that capitalism tends to create surplus value or the part of the...

a) This economist argued that capitalism tends to create surplus value or the part of the value of a commodity that exceeds the cost of labor and this is appropriated by the owners of the mean of production.

Select one: a. Karl Marx b. Adam Smith c. David Ricardo d. Alfred Marshall e. William Jevons

b)This economist argued that free markets promote growth and that selfish behaviour leads to economic, social and cultural development. The term "the invisible hand" is used frequently to make reference to his arguments.

Select one: a. Adam Smith b. Karl Marx c. David Ricardo d. Thomas Malthus e. Alfred Marsha

c)Alfred Marshall developed a very important model that is considered one of the cornerstones of modern economic theory. Under this model, when the Demand increases, we can expect that Select one

b. prices will increase and quantity traded will decrease in this market

c. prices will decrease and quantity traded will decrease in this market

d. prices and quantity traded will remain constant in this market e. prices will decrease and quantity traded will increase in this market

Solutions

Expert Solution

a) a. Karl Marx.

Explanation:

Karl Marx argued that capitalism tends to increase surplus value or the part of the value of a commodity that exceeds the cost of labor and this is appropriated by the owners of the mean of production.

b) a.Adam Smith.

Explanation:

Adam Smith argued that free markets promote growth and that selfish behaviour leads to economic,social and cultural development.The term "the invisible hand" is used frequently to make reference to his arguments.

c) e. Prices will decrease and quantity traded will increase in this market.

Explanation:

Alfred Marshall developed a very important model that is considered one of the cornerstones of modern economic theory.Under this model when demand increases we can expect that prices will decrease and quantity traded will increase in this market.

Rahul Sunny answered 2 years ago

Next > < Previous

Related Solutions

Suppose the government budget surplus falls. Compared to the last period, this tends to cause the...

Suppose the government budget surplus falls. Compared to the last period, this tends to cause the equilibrium (private sector) long-term real interest rate to ______ and the equilibrium (private sector) quantity of loanable funds exchanged to ______. a. fall, rise b. fall, fall c. rise, fall d. rise, rise

Suppose the government budget surplus falls. Compared to the last period, this tends to cause the...

What is the difference between production of surplus value and realization of surplus value? Use the...

What is the difference between production of surplus value and realization of surplus value? Use the process of accumulation to help demonstrate your answer.

Why do profits require surplus values? Why are profits central to the functioning of capitalism?

Is it possible for a decrease in demand to create a surplus? In that the old...

Is it possible for a decrease in demand to create a surplus? In that the old quantity supplied would be greater than the new quantity demanded? Or would surplus not apply to this sort of situation?

Economist Joseph Schumpeter once argued that people are too often lulled into an unproductively comfortable state...

Economist Joseph Schumpeter once argued that people are too often lulled into an unproductively comfortable state when they have continuous employment. His conclusion was that recessions (more accurately, depressions, in his era) were good because they forced people to be creative and entrepreneurial. He labeled this “creative destruction.” Do you agree with the premise of his argument? Do you agree with his conclusion?

Define class in the Marxist sense. Define surplus value. Explain how surplus value is extracted under...

Define class in the Marxist sense. Define surplus value. Explain how surplus value is extracted under capitalism. Explain which class produces surplus value and which class appropriates surplus value. Provide a contemporary example of extraction and appropriation of surplus value. (Max 300 words)

Part 20. In a surplus lines insurance submission, the surplus lines insurer may agree to quote...

Part 20. In a surplus lines insurance submission, the surplus lines insurer may agree to quote the customer’s submission without a new inspection if the customer submits which one of the following to the insurer? Select one: a. Annual report b. Risk control report c. Form 10-K d. Financial statement

It is often argued that the goal of financial management is to maximize the value of...

It is often argued that the goal of financial management is to maximize the value of the firm for its owners. Prompt: Do you agree that this is the proper goal? Why or why not? Read Goizueta (1997) (Links to an external site.). Here, Goizueta defends Coca-Cola’s stated mission: “to create value over time for the owners of our business.” Prompt: Do you find his arguments persuasive? Why or why not? minimum 300 words

textbook theory argued that the ability of banks to create loans and deposits is constrained by...

textbook theory argued that the ability of banks to create loans and deposits is constrained by the FED's 10% reserve requirement. Heterodox economists have long argued that large banks are not constrained by reserve requirements. The FED recently eliminated the 10% reserve requirement on demand deposits. 1. Explain why the loan creating ability of large banks is not constrained by reserve requirement. 2. What does constrain the loan creating ability of large banks?

Subjects