Most Economists Today Hold a Certain Respect for Marx's Economic

question 70

Multiple Choice

Most economists today hold a certain respect for Marx's economic perspectives because

• A) most of Marx's predictions have come true, pretty much in the way he said they would.
• B) most economists today are strong labor sympathizers.
• C) Marx was the first to recognize the inherent dangers of government intervention.
• D) Marx demonstrated that in the final analysis, there is always a market for goods and the labor that produces them.
• E) Marx was the first to conceptualize a business cycle in which good times eventually produced bad times and vice versa.

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Definitions:

Purpose

The reason for which something is done or created, or for which something exists; intent or objective.

Instrument

A legal document formalizing an agreement or right, such as contracts, wills, or deeds.

Conditional Order

Refers to an order in a legal or financial context that will only be executed if certain conditions are met.

Negotiable Instrument

A financial document, such as a check or promissory note, that contains a promise to pay a specific amount of money to the bearer or assignee, which can be transferred by endorsement or delivery.