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Net income {Ans: revenues - expenses}Milton Friedman is likely to agree with the statement that a virtue of private competitive enterprise is that it forces people to be responsible for their own actions and makes it difficult for them to exploit other people for either selfish or unselfish purposes. {Ans: True}In The Republic, Plato surmises that the number of physicians needed for a society will decrease as it moves from its original state to a more luxurious one. {Ans: False}During lecture, Professor Hendricks highlighted a recent report from the United Nations that indicated there are fifty million people stuck in modern day slavery, a significant increase from the last reported number {Ans: True}Regarding chassis assembly, Henry Ford noted to have "adopted the policy of a 'man-high' work: we had one line twenty-six and three quarter inches and another twenty-four and one half inches from the floor." Which principle of Scientific Management is this? {Ans: The scientific selection of the worker (once we know what the task is, we can identify the best person for the job)}Plato writes, "The natural advantages which one country has over another, in producing particular commodities, are sometimes so great, that