Division of labor refers to
A) dividing tasks up into several subtasks and having one person perform these subtasks in a certain order.
B) the separation of hourly workers from salaried workers.
C) assigning different workers to different tasks.
D) separating union workers from nonunion workers.
C
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The Bureau of Labor Statistics does not count discouraged workers as unemployed. Suppose discouraged workers were counted as unemployed. Explain how the unemployment rate and the labor force participation rate would change
What will be an ideal response?
Kyra's Vedic Secrets produces hair masks and hair spa products. The firm advertises a secret natural ingredient used in its products that completely stops hair fall and improves hair growth. Consumers have a high perception of its products' quality and are ready to pay a marginally higher price for its products than for its rival's products. The firm described in this example is operating in a(n)
_____. a. perfectly competitive market b. monopoly c. oligopoly d. monopolistically competitive market
If the cross-price elasticity of demand for computers and software is negative, this means the two goods are
A) normal. B) inferior. C) substitutes. D) complements.
In which case is the transition from short run to long run likely to involve the shortest chronological time period?
A. A service that provides temporary secretaries to companies B. An automobile factory C. A farm D. An electric utility