All of the following, except one, help explain why specialization leads to greater production than is otherwise possible. Which is the exception?
a. It allows the organization of production in business firms.
b. Specialization reduces the time lost in moving from one activity to another.
c. As workers repeat an activity over and over, they hone their skills and become more expert.
d. Specialization allows workers to be assigned to the activities for which they have the greater natural ability.
e. The more often workers repeat an activity, the more stimulating and enjoyable they find it.
E
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What would be the actuarially fair premium for an insurance policy that pays $1,000 in the event of a loss that has a 25% chance of occurring?
A. $250 B. $750 C. $1,250 D. $500
If the Bank of America lends $100 million and the reserve requirement is 10%, the monetary base:
a. Falls by $100 million. b. Falls by $10 million. c. Does not change. d. Rises by $100 million. e. Rises by $10 million.
When a company sells stock for the first time to raise money for a business expansion, this is called a(n)
A. IPO (Initial Public Offering). B. PPO (Preferred Public Offering). C. FTO (First Time Offering). D. FSS (First Sale of Stock).