One reason Henry Ford is famous was for instituting:
A. assembly lines in an effort to reduce worker turnover.
B. efficiency wages in an effort to reduce worker absenteeism.
C. minimum wages in an effort to increase productivity.
D. unemployment benefits in response to the first unionized workers.
B. efficiency wages in an effort to reduce worker absenteeism.
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According to the World Bank, in 2006, China's GDP was approximately $2.7 trillion (or $2,700 billion). That same year, India's GDP was approximately $906.3 billion
With which of the following populations would China's standard of living have been considered higher than India's that year? A) China's population = 500 million; India's population = 125 million B) China's population = 8.3 billion; India's population = 1.1 billion C) China's population = 1.3 billion; India's population = 1.1 billion D) China's population = 3.5 billion; India's population = 1.1 billion
Refer to Figure 17-3. Panel D is appropriate when used to represent
A) the quantity of labor demanded by an input price taker. B) the quantity of labor supplied by someone working a fixed number of hours. C) the labor supply curve facing an input price taker. D) the highly-skilled labor market supply curve.
Economies of scale can result from
A) larger machines. B) specialization. C) large purchases. D) all of these choices.
Refer to the information provided in Figure 23.3 below to answer the question(s) that follow.
Figure 23.3Refer to Figure 23.3. The equation for the aggregate saving is
A. S = -200 + 0.6Y. B. S = -140 + 0.5Y. C. S = -60 + 0.3Y. D. S = -80 + 0.4Y.