The March Revolution of 1917

question 40

Multiple Choice

The March Revolution of 1917

• A) swept Lenin into power in Russia and led to the creation of the Soviet Union.
• B) resulted in the long-anticipated collapse of the Ottoman empire.
• C) forced France out of the war.
• D) was an unplanned and incomplete affair.
• E) erupted after the assassination of Nicholas II.

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Definitions:

Deadweight Loss

A loss of economic efficiency that can occur when the equilibrium for a good or service is not achieved or is not achievable.

Consumer Surplus

The difference between what consumers are willing to pay for a good or service and what they actually pay.

Producer Surplus

The difference between the price that suppliers actually receive and the minimum price they would be willing to accept. It measures the net gains to producers and resource suppliers from market exchange. It is not the same as profit.

Soft Coal

Another term for bituminous coal; a type of coal known for its high moisture content and smoke-producing properties.