Instructions:
• If a question has two parts, each should be discussed in equivalent depth.
Section I
Do you agree or disagree with the following statements? Explain why for each statement in one-two sentences; 150 words total. The more precise your explanation, the higher the points you will be awarded. (2 points × 5 = 10 points)
A. Wages in Capitalism are fixed at subsistence level
B. Capitalism is equivalent to commodity production
C. Machines transfer a part of their value into the finished product
D. Capitalist profits emerge in the sphere of exchange
E. In Capitalism, it is not possible for workers’ wages and capitalists’ profits to rise at the same time
Section II
Answer any one of the following in 150 words (10 points):
1. According to the Labor Theory of Value, what is the source of surplus value in Capitalism? Explain in relation to the working day.
2. What is the Reserve Army of Labor? What is its role in the determination of the value of labor power?
Section 3
Answer any one of the following in 250 words (15 points):
3. What are the two primary means to increase surplus value? Explain each with a hypothetical numerical example; show how each would impact the rate of surplus value.
4. Describe the ways in which gendered divisions of labor contribute to capitalist accumulation.
