Question 1

Whats defention of terms:
-surplus labor

Accepted Answer

the amount of labor that produces a company's profits

Question 2

Whats defention of terms:
-rate of exploitation

Accepted Answer

the ratio of surplus hours to necessary hours

Question 3

List and discuss the sources of conflict between employers and employees and the rate of exploitation.
-Explain why employers and employees bargain or struggle over necessary and surplus labor. What are the three main sources of conflict?

Accepted Answer

Conflicts over wages and salaries; conflicts over the number of hours in the workday; and conflicts over the intensity of labor

Question 4

List and discuss the sources of conflict between employers and employees and the rate of exploitation.
-Why can't an employee be paid below a wage floor? Why wouldn't an employer pay above a wage ceiling?

Accepted Answer

The answer of List and discuss the sources of conflict...

Question 5

Give a brief overview of the history of labor conflicts.
-What factors would give employers power as they bargain with employees over compensation, hours, and effort? Explain.

Accepted Answer

The answer of Give a brief overview of the history...

Question 6

Give a brief overview of the history of labor conflicts.
-When was union membership at its highest level? Why?

Accepted Answer

The answer of Give a brief overview of the history...

Question 7

Discuss what constitutes exploitation and how exploitation occurs in various economic systems over time, including in contemporary capitalism.
-What is exploitation as discussed in this chapter? Does an employee need to be making low wages to be exploited?

Accepted Answer

The answer of Discuss what constitutes exploitation and how exploitation...

Question 8

Whats defention of terms:
-wage floor

Accepted Answer

The answer of Whats defention of terms:
-wage floor...

Question 9

Define and describe surplus labor.
-How is surplus labor different from necessary labor?

Accepted Answer

The answer of Define and describe surplus labor.
-How is surplus...

Question 10

In the classic film, Modern Times Charlie Chaplin works on an assembly line that continues to move faster and faster, and Charlie struggles harder and harder to keep u

Accepted Answer

A)  labor intensity 
B)  exploitation 
C)  monopsony 
D)  appropriation 
A)  labor intensity 
B)  exploitation 
C)  monopsony 
D)  appropriation

Question 11

Discuss what constitutes exploitation and how exploitation occurs in various economic systems over time, including in contemporary capitalism.
-Was there exploitation in the prehistoric communal society? Why or why not?

Accepted Answer

The answer of Discuss what constitutes exploitation and how exploitation...

Question 12

Give a brief overview of the history of labor conflicts.
-What has happened to union membership since the 1950s? Why?

Accepted Answer

The answer of Give a brief overview of the history...

Question 13

Whats defention of terms:
-Taft-Hartley Act

Accepted Answer

The answer of Whats defention of terms:
-Taft-Hartley Act...

Question 14

Susan earns $100 per day in wages for an 8 hour day. Her employer earns $100 per day in profits.

Accepted Answer

A)  Necessary labor time is equal to 8 hours. 
B)  Surplus labor time is equal to 8 hours. 
C)  Necessary labor time is 4 hours and surplus labor time is 4 hours. 
D)  Necessary labor time cannot be determined from the information give. 
A)  Necessary labor time is equal to 8 hours. 
B)  Surplus labor time is equal to 8 hours. 
C)  Necessary labor time is 4 hours and surplus labor time is 4 hours. 
D)  Necessary labor time cannot be determined from the information give.

Question 15

A wage floor in any society is equal to

Accepted Answer

A)  the federal minimum wage. 
B)  the subsistence wage. 
C)  the wage earned by necessary labor. 
D)  the wage earned by surplus labor. 
A)  the federal minimum wage. 
B)  the subsistence wage. 
C)  the wage earned by necessary labor. 
D)  the wage earned by surplus labor.

Question 16

A wage ceiling in any society is equal to

Accepted Answer

A)  a wage with no surplus labor. 
B)  the subsistence wage. 
C)  the wage earned by necessary labor. 
D)  the wage earned by surplus labor. 
A)  a wage with no surplus labor. 
B)  the subsistence wage. 
C)  the wage earned by necessary labor. 
D)  the wage earned by surplus labor.

Question 17

The AFL-CIO is a voluntary assocation of national and international labor unions. What does AFL stand for in the name, AFL-CIO?

Accepted Answer

A)  American Football League 
B)  American Federation of Labor 
C)  Arena Football League 
D)  American Fraternity of Labor 
A)  American Football League 
B)  American Federation of Labor 
C)  Arena Football League 
D)  American Fraternity of Labor

Question 18

Whats defention of terms:
-monopsony

Accepted Answer

The answer of Whats defention of terms:
-monopsony...

Question 19

Suppose Lisa works an 8 hour day copyediting books at a wage of $10. During that time she adds $160 to the value of the books sold in the market.

Accepted Answer

A)  Profits are equal to $160 per day. 
B)  Profits are equal to $150 per day. 
C)  Profits are equal to $80 per day. 
D)  Profits are equal to $10 per day. 
A)  Profits are equal to $160 per day. 
B)  Profits are equal to $150 per day. 
C)  Profits are equal to $80 per day. 
D)  Profits are equal to $10 per day.

Question 20

Whats defention of terms:
-wage ceiling

Accepted Answer

The answer of Whats defention of terms:
-wage ceiling...

Exam 19: Inequality, Exploitation, and Economic Institutions

Whats defention of terms: -surplus labor

Whats defention of terms: -rate of exploitation

List and discuss the sources of conflict between employers and employees and the rate of exploitation. -Explain why employers and employees bargain or struggle over necessary and surplus labor. What are the three main sources of conflict?

List and discuss the sources of conflict between employers and employees and the rate of exploitation. -Why can't an employee be paid below a wage floor? Why wouldn't an employer pay above a wage ceiling?

Give a brief overview of the history of labor conflicts. -What factors would give employers power as they bargain with employees over compensation, hours, and effort? Explain.

Give a brief overview of the history of labor conflicts. -When was union membership at its highest level? Why?

Discuss what constitutes exploitation and how exploitation occurs in various economic systems over time, including in contemporary capitalism. -What is exploitation as discussed in this chapter? Does an employee need to be making low wages to be exploited?

Whats defention of terms: -wage floor

Define and describe surplus labor. -How is surplus labor different from necessary labor?

In the classic film, Modern Times Charlie Chaplin works on an assembly line that continues to move faster and faster, and Charlie struggles harder and harder to keep u

Discuss what constitutes exploitation and how exploitation occurs in various economic systems over time, including in contemporary capitalism. -Was there exploitation in the prehistoric communal society? Why or why not?

Give a brief overview of the history of labor conflicts. -What has happened to union membership since the 1950s? Why?

Whats defention of terms: -Taft-Hartley Act

Susan earns $100 per day in wages for an 8 hour day. Her employer earns $100 per day in profits.

A wage floor in any society is equal to

A wage ceiling in any society is equal to

The AFL-CIO is a voluntary assocation of national and international labor unions. What does AFL stand for in the name, AFL-CIO?

Whats defention of terms: -monopsony

Suppose Lisa works an 8 hour day copyediting books at a wage of $10. During that time she adds $160 to the value of the books sold in the market.

Whats defention of terms: -wage ceiling

Prehistoric Communal Institutions in the Middle East

Communal Equality to Slavery in the Middle East

Slavery to Feudalism in Western Europe

Feudalism and Paternalism in England

Feudalism to Capitalism in England

Mercantilism in England

Pre-Capitalism to Industrial Capitalism in the United States 1776-1865

Classical Liberalism Defense of Industrial Capitalism

Socialist Protest Against Industrial Capitalism

Marx Critique and Alternative to Capitalism

Rise of Corporate Capitalism in the United States, 1865-1900

Neoclassical Economics Defense of Corporate Capitalism

Veblen Critique of Corporate Capitalism

Growth and Depression in the United States, 1900-1940

Keynesian Economics and the Great Depression

The United States and Global Capitalism, 1940-2006

Robinson Crusoe Two Perspectives on Microeconomics

The Two Americas Inequality, Class, and Conflict

Prices, Profits, and Exploitation

Market Power and Global Corporations

Economics of Racial and Gender Discrimination

Environmental Devastation

Government and Inequality

Economic Democracy

Scarcity and Choice Neoclassical View

Simple Analytics of Supply and Demand

Consumption Theory: Demand

Production Theory Supply

Costs of Production

Work and Wages Neoclassical View of Income Distribution

Prices and Profits in Perfect Competition

Monopoly, Power, Prices, and Profits

Monopolistic Competition and Oligopoly

Market Failures Public Goods, Market Power, and Externalities

History of Business Cycles and Human Misery

National Income Accounting How to Map the Circulation of Money and Goods

Money and Profit Says Law and Institutionalist Criticism

Neoclassical View of Aggregate Supply and Demand

Keynesian View of Aggregate Supply and Demand

How to Measure Instability

Consumer Spending and Labor Income

Investment Spending and Profit

The Multiplier

Business Cycles and Unemployment

Growth and Waste

Fiscal Policy

Government Spending and Taxes

Money, Banking, and Credit

Inflation

Monetary Policy

Exports and Imports

International Trade, Investment, and Finance How Instability Spreads Around the World

Debate on Globalization

Debate on Free Trade

Development

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