Sunday, February 07, 2016

Short Course Midterm: Grades, Curves, Pass, Fail

Section A Demystify the following statements

1. "The falling cost of energy in the US as a result of the shale revolution was supposed to encourage the relocation of operations from both domestic and foreign companies.  For example numerous energy intensive firms, such as petrochemical companies, were expected to build new plants in the US as a result of changing economics."

2. "At the same time, technological breakthroughs encourage even old economy companies such as carmakers to expand or shift production to the US to take advantage of the latest trends."

3.  "Quantitative easing was supposed to encourage manufacturers to expand capital expenditures given the low cost of capital."

Section B: True or False, or both, or each exists in the other

1. Overproduction is an episodic moment, as opposed to  a chronic condition, in capital accumulation.

2. Overproduction is the overproduction of use values beyond the effective demand of society. 

3. Overproduction of capital is separate from overproduction of commodities.  It has a different origin, and different resolution.

4. Overproduction occurs when capital runs up against the limits to population growth.

5. Overproduction cannot reach "criticality" until capitalism has penetrated the entire globe. 

Section C:  Essay 

In a single essay, explain the reasons for your answers in question 1-5 in Section B. 

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