Unit 1 Macro and Microeconomic Concepts in a Global Context - Marginal Rate of Transformation - Glob
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What is the difference? a. "Old money" refers to people who made their fortunes in traditional manufacturing industries, while "new wealth" refers to people who were information technology innovators. b. "Old money" refers to people who are socially ...
Workers picking strawberries can pick 100 baskets an hour, but the value of 20 baskets is all it costs the employer to pay them their hourly wages. According to Karl Marx, the income the employer collects from the extra baskets is. a. cultural capital.
d. globalization will eventually do away with class positions. C. Oprah Winfrey was born into poverty and raised by a single mother, yet today she is one of the richest women in America. According to the textbook, the social position we are born into affects our life chances, but our class position is also.