1. If you are a working student that happily gets paid $18/hr to stock shelves at a sleepy local store, are you being exploited for your labor power? Explain how you are being exploited or why you are not being exploited.

2. You are a bodega owner that runs a modest bodega along Jamaica Avenue. List 2 forms of capital that you might own and explain why they are are forms of capital?

3.What distinguishes each type of capitalist from each other? (Or in other words, what makes them different from one another?)

QUESTION 8
In the flow of capital (M -> C -> M’), who owns the value of M’?

QUESTION 15
Marlene decided to turn her mangoes into mango shake and sell them to people. She received $3 for every shake that she sold. The $3 that Marlene earned for every shake she sold is considered what?

Value of Labor

Exploitation

Value of Labor Power

Use Value

QUESTION 14
Marlene’s business was booming. She hired an employee to help her create more mango shakes that she originally can. This employee was being paid $1 per shake made, while each shake was being sold for $3 each. The $1 that the employee was earning is considered as what?

Value of Labor Power

Value of Surplus Labor

Use Value

Value of Labor

QUESTION 13
Matthew bought 2 mangoes from the market to satiate the need for a present to Marlene. The mangoes’ ability to satisfy the need for a present are the mangoes’ what?

Labor Power

Labor

Use Value

Exchange Value

QUESTION 11
Adam went to the market and traded 5 mangoes for 3 pig iron. The 3 pig iron is the what to the 5 mangoes?

Labor Power

Use Value

Labor

Exchange Value

QUESTION 10
Why do capitalists own the value of surplus labor?

Because capitalists own the means of production

Because capitalists apply their labor to produce commodities

Because capitalists need the value of surplus labor to generate more capital

Because capitalists are bad

QUESTION 6
For every mango shake that Marlene’s business was selling, Marlene was giving $1 to her employee and keeping the $2 for herself. The $2 Marlene keeps for every mango shake sold is considered as what?

Value of Surplus Labor

Value of Labor

Value of Labor Power

Use Value

QUESTION 4
Bob is a hardworking car manufacturing worker. He is well paid and satisfied on his compensation at the factory, even though he does not get benefits because he is paid $60k a year. This salary rate is above the average salary in the area which Bob resides. In a capitalist system (and using what we learned in political economy), what class does Bob belong to?