Given the Three-Step "Blast Furnace" Process That Converts Iron Ore,Fe₂O₃,into

question 33

Multiple Choice

Given the three-step "blast furnace" process that converts iron ore,Fe₂O₃,into molten "pig iron": 3 Fe₂O₃(l) + CO(g) → 2 Fe₃O₄(l) + CO₂(g)
Fe₃O₄(l) + CO(g) → 3 FeO(l) + CO₂(g)
FeO(l) + CO(g) → Fe(l) + CO₂(g)
What mass of Fe₂O₃ is required to produce 1.00 metric ton (1000 kg) of iron?

• A)175 kg
• B)699 kg
• C)1430 kg
• D)2860 kg
• E)5720 kg

Explain the short-run effects of changes in the money supply on inflation and unemployment.

Understand the definitions and implications of economic terms such as inflation and economic fluctuations.

Analyze the trade-off between efficiency and equality in economic policies.

Grasp the fundamental principles of economics, including scarcity, opportunity cost, tradeoffs, and resource allocation.

---

Definitions:

R&D Expenditures

Funds allocated towards research and development activities by businesses, government, or organizations.

Market Interest Rate

The prevailing rate at which borrowers are willing to borrow money and lenders are willing to lend in the financial market.

Basic Scientific Research

The initial stage of scientific inquiry aimed at gaining more comprehensive knowledge or understanding of the subject without specific applications towards processes or products in mind.

Positive Externalities

Benefits that are enjoyed by a third-party or the broader society as a result of an economic transaction or activity, without them directly participating in it.