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Economics

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Tom Schmidt

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Cards in this guide (19)
What companies does Kellogg's own

The Kellogg company owns several other companies that are well known. Some of the companies are Pringles, Famous Amos, Pop Tarts, and Morningstar Farms.

Who is the father of modern economics

Adam Smith

This man is responsible for changing classical thinking in the twentieth century

keynes

The difference between what the workers produce and what they earn is surplus value

Surplus value is the difference between the value that workers produce and what they are paid in wages.

Who benefited least from the new deal policies

Minorities and women were the least benefited from the New Deal policies.

Which factors of production are used by a landscaping service to provide economic value

labor, capital, and natural resources

What dictates which goods and services producers should or should not create

Consumer choices

What is money called when it is accepted for goods and services

A medium of exchange

Who is responsible for the law of diminishing returns

Thomas Malthus

Who pays the taxes within an S corporation

Corporation Shareholders

Who theorized the economic system of socialism

Karl Marx

Which modern theorist's work in monetarist thought earned him a Nobel prize in economic sciences

Milton Friedman's work in monetarist thought earned him a Nobel prize in economic sciences.

What is a corporation that does not pay any federal income taxes

S corporations

In the development of general equilibrium who discovered how to analyze and measure the economy as a whole

Léon Walras

What of the following is true of private corporations

they are not owned by the general public A+

Which of these describes the economic theory of laissez-faire

An economic system should be driven by free market forces, not government intervention. A+

Which of these was developed by David Ricardo

law of comparative costs

Which of these does not describe the northern states

They used slaves for cheap labor.

Is john Maynard Keynes single

No, john Maynard Keynes is not single.

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