Karl Marx and Friedrich Engels said
A. "The theory of the Communists may be summed up in the single sentence: Abolition of private property."
B. "The vice of capitalism is that it stands for the unequal sharing of blessings; whereas the virtue of socialism is that it stands for the equal sharing of misery."
C. "It is not the employer who pays wages-he only handles the money. It is the product that pays wages."
D. "Capital is past savings accumulated for future production."
A. "The theory of the Communists may be summed up in the single sentence: Abolition of private property."
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The major advantage of the corporation is
a. limited liability for owners. b. greater profit incentive than the other forms of business organization. c. lower taxes for owners, who are taxed only once. d. ability of owners to have hands-on management of the firm.
The above diagram is best described as an idealized:
A. prosperity cycle. B. recession cycle. C. business cycle. D. cyclical variation.