What is the lesson of Brynjolfsson et al.'s Instagram example?
a. Labor and capital can be managed much more efficiently in the new digital economy.
b. It is no longer important to sell an actual manufactured product.
c. Capital has moved out of manufacturing and into the digital age.
d. The moneymakers of the new age can make billions without a large amount of capital or employing a large amount of people.
d
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Politicians who want to raise taxes on the wealthy are often accused of "class warfare." What is implied in this accusation?
a. that revolution is imminent b. that people should not perceive themselves in terms of social class c. that the upper and lower classes have nothing in common d. that the middle class is the most politically moderate
News Clip 1.1: Drought TownClick on the above link to access the Interactive eBook. Once you've signed in, scroll to page 7 and watch the video. When you've finished watching the video, come back to the test and answer the following questions:Water availability in some California towns varies by time of day.
A. True B. False