econ Covering Karl Marx

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  1. Which of the following belongs to society’s superstructure, according to Karl Marx?
    a. The skills of producers in that society
    b. The legal system of that society
    c. The technology available to producers
    d. The relations between producers in that society’s economy

1 points

QUESTION 2

  1. Which if following statements is FALSE, according to Marx?
    a. Things cannot be commodities unless they have utility
    b. Things cannot have utility unless they are produced by labor
    c. Things cannot have value unless they were produced by labor
    d. Commodities have use-value and exchange-value

1 points

QUESTION 3

  1. Which of the following statements about accumulation is TRUE, according to Karl Marx?
    a. It goes hand-in-hand with an increase in the organic composition of capital
    b. It leads to an in increase in the rate of profit in the economy
    c. It leads to a greater increase in variable capital than in constant capital
    d. It leads to a decrease in the number of workers employed in factories

1 points

QUESTION 4

  1. In an economy, c = 600, v=400, s=200. Calculate the rate of exploitation.

1 points

QUESTION 5

  1. In an economy, c = 500, v=300, s=200. Calculate the rate of profit.

1 points

QUESTION 6

  1. What is the organic composition of capital if c=300, v=150, s=300?

1 points

QUESTION 7

  1. i. Explain the difference between the circuit C-M-C and the circuit M-C-M’. (1 point)ii. Present how (a) workers and (b) each of the three different kinds of capitalists participate in these circuits. (2 points)Direct quotes are welcome, but not necessary.
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3 points

QUESTION 8

  1. Marx argues that, as accumulation progresses, capitalists progressively choose to increase their organic composition of capital (OCC). Please elaborate on the following questions:i. What does an increasing OCC signify? (1 point)ii. Why do capitalists decide to increase the OCC? (1 point)iii. What is the effect of this decision on the profit rate in the economy? (1 point)iv. What is the effect of this decision on the industrial reserve army? (1 point)Please write a few sentences for each of these parts. Your answers should not simply present the direction of these changes, but explain why they happen.Direct quotes are welcome, but not necessary.
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