According to the Sociologist Erik Wright's Marxian Model,all of the Following

question 34

Multiple Choice

According to the sociologist Erik Wright's Marxian model,all of the following are criteria for placement in the class structure EXCEPT:

• A)ownership of the means of production
• B)purchase of the labor of others
• C)inherited wealth
• D)sale of one's own labor

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Definitions:

Wages

Payments made to employees based on the hours worked or the output produced; it is the price of labor.

Salaries

Fixed regular payments made by employers to employees, typically on a monthly or biweekly basis, in exchange for the professional services rendered.

GDP

The Gross Domestic Product calculates the full monetary or market price of all the finished commodities and amenities created within a country for a particular time window.

GDP Deflator

A yardstick for the cost measures of all new, nationally manufactured, final goods and services in an economy.