Rosa is paid 10 per hour for her work on an assembly line. During that time, she produces goods that will be sold by her employer for 45 . What would Marx term the 35 difference between Rosa's wages and the value of what she produces?
a. return on investment
b. overhead
c. surplus value
d. alienation
e. exploited labor
Question 2Under socialism, economic activity is guided by the principle of:
a. private profit.
b. public need.
c. government profit.
d. elite needs.
e. the state knowing what is best for society.
Question 3Which two developments undermine Marx's prediction about the end of capitalism?
a. labor unions and access to markets in developing countries
b. a reduction in greed and less inequality between classes
c. increased worker satisfaction and greater government regulation
d. labor unions and a move toward command economies
Question 4Marx predicted that under socialism:
a. workers would continue to be exploited.
b. private property would be limited to a select few.
c. workers would control the means of production.
d. as owners, workers would become more like dictators over the people.
e. workers would be unsure of authority and more prone to violence.
Question 5Marx predicted that as production expands in capitalist economies:
a. profits will decline and wages will fall, leading to revolution.
b. wages will increase and profits will decline, leading to bankruptcy.
c. profits and wages will both increase, leading to inflation.
d. profits and wages will become irrelevant, as a decent standard of living for all is attained.
e. as profits increase, wages will be increased to produce better goods.
Question 6When people are deprived of satisfaction in their work, they are said by Marxists to be:
a. anomic.
b. alienated.
c. rejected.
d. discontent.
e. powerless.
Question 7The U.S. economic system is best described as:
a. laissez-faire capitalism.
b. a mixed economy.
c. democratic socialism.
d. a command economy.
e. a pure capitalist economy.
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