Part II Matching __1. Public Goods __2. Marginal Propensity to Consume __3. Disequilibrium __4. Socialism __5. Capitalism __6. Supply Side Economics __7. Corporatism __8. Collectivism __9. Dynamic Law of Supply and Demand __10. Consumption Function __11. Productivity __12. Market Failure __13. Demand __14. Monad __15. Phillips Curve __16. Laffer Curve __17. CPI __18. Expected Rate of Profit __19. Alfred Chandler __20. Corporation __21. Limited Life __22. Limited Liability __23. Social Surplus __24. Public Sector Complex __25. Transfer Payments __26. Marginal Tax Rate Answers to Matching II A. the economic model of fascism, based on national councils of government, business, and labor which control industries, including answers to all the basic economic questions, and is one of the reasons that it is incorrect to say that there is actually private property in such systems. B. originally postulated to show an inverse relationship between unemployment and inflation rates. C. In the Visible Hand, set forth the thesis that it is middle management that really controls corporate America. D. Contrasts with the static rule by taking into account the elasticity of price and response of demand to it. E. Change in expenditure divided by change in disposable income. F. the official governmental measure of the rate of inflation. G. actual consumption. H. examples would include social security, unemployment, and subsidies to farms and business. I. depicts the inverse relationship which can occur between tax rates and revenue collection. J. increase output per unit of input. K. the form of business organization which makes possible greater economies of scale because of the favorability of potential for capital accumulation. L. began to accelerate in growth following the Great Society programs of LBJ in the 1960's. M. characteristic of corporations which holds stockholders accountable for only the value of their stock. N. provided by government at public expense, the use of them by one person hypothetically does not reduce their use and availability to others. O. a characteristic of both sole proprietorships and partnerships. P. determines amount of tax on additional income. Q. the 'profit' of an economy, the level of which has much to do with determining investment levels. R. any of a number of collectivist economic programs which include collective ownership or control of the means of production and the determination of answers to the basic economic questions, and which usually want to redistribute wealth more equally. S. market outcome judged to be inadequate. unacceptable, or 'unfair' in relation to some purported goal of society. T. an economic system in which free markets and private enterprise and private control of the factors of production are the rule. U. a state in which countering forces are not in balance, so that there is a tendency for change to result. V. a broader and more useful term for any of the forms of group control over the economy, including socialism, communism, social democracy, and corporatism and fascism. W. school of economic thought which advocates reduction of government taxation and regulation, and pro-active support, of market forces to promote production and economic growth and development. X. as income rises, consumption rises, though not as quickly. Y. anticipated profit over value of investment. Z. in Liebniz, this represents the 'discrete particular' disassociated from its field of reference, and thereby suffering from anomie. Click Here to Go to Part III of Mid-Term Click Here to Go to Part I of Mid-Term