Karl Marx

question 248

Multiple Choice

Karl Marx

• A)believed that the state would eventually "wither away."
• B)wrote Das Kapital.
• C)believed that the factory owner,by paying his workers meager wages,was able to use this surplus to buy more capital goods.
• D)said whoever controlled a society's capital controlled that society.
• E)all of the statements about Karl Marx are true.

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Definitions:

Unit of Labor

A measurement used to represent an hour of work or effort by a worker or laborer.

Wage Rate

The amount of money paid to an employee for a specified quantity of work, often expressed per hour or year.

Marginal Revenue Product

The extra income produced by the use of an additional unit of a resource, for example, labor or capital.

Unit of Output

A quantifiable amount of goods or services produced by a firm, industry, or economy.