The Labor Theory of Value States That

question 128

Multiple Choice

The labor theory of value states that

• A) if all markets are competitive, then labor will be paid its marginal revenue product.
• B) under capitalism all workers will be paid a subsistence wage.
• C) the value of a commodity depends only on the amount of labor required to produce it.
• D) labor should be paid what is left over after all other factors of production have been paid.

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Definitions:

Utility Reactions

The perceived usefulness and the positive or negative responses of individuals towards a particular intervention or program.

Return on Expectations

A measurement of the success of a project or investment based on the fulfillment of the stakeholders' initial expectations and objectives.

Perceived Support

The degree to which individuals believe their organization or social network provides them with assistance, care, and encouragement.

Newly Learned Skills

Skills and knowledge that have been recently acquired through education, training, or experience.