In the first chapter of The Wealth of Nations, Smith introduces the idea of the __________, which means the way in which the work required to produce a good or service is divided into a number of tasks that are performed by different workers.
division of labor
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Bonnie volunteers to help make floral arrangements at a flower shop. She is an example of
A) entrepreneurial ability. B) labor. C) physical capital. D) human capital.
Explain the study of economics
What will be an ideal response?
A person will do more good pursuing his own self-interest than if he consciously set out to promote the public good was the view of
A. Karl Marx. B. John Maynard Keynes. C. Mikhail Gorbachev. D. Adam Smith.
A forecaster used the regression equationQt = a + bt + c1D1 +c2D2 + c3D3and quarterly sales data for 1996 I - 2013 IV (t = 1, ..., 64) for an appliance manufacturer to obtain the results shown below. Q is quarterly sales, and D1, D2 and D3 are dummy variables for quarters I, II, and III. 
Using the estimation results given above, the predicted level of sales in 2014 III is ________ units.
A. 156 B. 141.5 C. 173.5 D. 172 E. none of the above