The manager of a car manufacturing factory assigns workers different tasks based on their skills. He assigns some workers the task of designing cars and some the task of testing cars. Which of the following is true in this scenario?
a. This is an example of specialization of labor
b. This is likely to increase the average cost of producing a car.
c. This is likely to decrease the profit of the factory.
d. This is likely to lead to the privatization of the factory.
a
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What was the most immediate impact of introducing the horse to the plains Indians?
a. A decrease in the amount of agricultural work the Indians did b. A large increase in the size of hunting groups c. More intensive and more efficient use of animal carcasses. d. More time was spent in fixed locations
A non-policy reason for the reduction in the natural rate of unemployment is the
a. expansionary nature of monetary policy. b. aging of the U.S. labor force. c. decline in interest rates. d. growing federal budget surplus.
If the units of variable input in a production process are 1, 2, 3, 4, and 5, and the corresponding total outputs are 30, 34, 37, 39, and 40, respectively. The marginal product of the fourth unit is:
a. 1. b. 37. c. 2. d. 39.
How do financial institutions evaluate the creditworthiness of potential borrowers?
A. They do not evaluate creditworthiness because everyone is treated the same. B. They offer high interest rates because only the best borrowers will be able to afford them. C. They do not evaluate the creditworthiness because they know the borrower will honor his/her obligation to repay the loan. D. They gather information regarding the borrowers' finances.