The division of labor usually refers to splitting
a. the three coordination decisions among different sets of planners.
b. the parts of a complex task among different workers.
c. the production of consumption goods and capital goods among different workers.
d. political leaders into radical and conservative camps each year.
b
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Which of the following institutions are NOT examples of financial intermediaries?
A) 1st National Bank, Chemical National Bank, Chase Manhattan National Bank B) Farmer's Credit Union, 1st Mortgage Bank, IBM Credit Union C) a Savings and Loan, New York Savings and Loan, First American Savings and Loan D) the New York Stock Markets, Chicago and Pacific
Reputations:
A. are generally not important in economic decisions. B. influence a wide variety of important economic decisions. C. represent manifestations of the winner's curse. D. always lead to Nash disequilibriums.
The adjustment of nominal incomes to changes in the price level (CPI) is fixed because of the: a. volatility of investment spending
b. existence of long-term contracts. c. complete information possessed by workers. d. all of the above.
For a monopoly, the entry of new firms is difficult, but not impossible
Indicate whether the statement is true or false