The division of labor refers to
A. the separation of workers into union workers and non-union workers.
B. the separation of blue-collared workers and white-collared workers.
C. the assignment of different workers to different tasks.
D. finding the best order of performing tasks.
Answer: C
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Refer to the table below. Julia's opportunity cost of making a pie is: Time to Make a PieTime to Make a CakeMartha60 minutes80 minutesJulia50 minutes60 minutes
A. 60 cakes B. 6/5 of a cake C. 5/6 of a cake D. 6 cakes
In economics, technology only refers to the development of new products
Indicate whether the statement is true or false
If an economy is operating at short-run equilibrium below the level of real GDP, the self-correction model result is that: a. unemployment increases
b. unemployment falls. c. cyclical unemployment increases. d. frictional and structural unemployment increase.
If net exports increase by $10 billion and the MPC = 0.6, the resulting increase in the consumption component of AD is: a. $25 billion. b. $15 billion. c. $6 billion
d. $4 billion.