Division of labor means that
A) the labor market in the United States is geographically segmented.
B) some employees join labor unions and others do not.
C) management and labor are always in conflict.
D) the production process is divided into smaller tasks.
Answer: D
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If a union successfully negotiates for higher wages and benefits for steel workers, what impact would this have on supply and demand in the market for steel, assuming no other changes take place in this market?
What will be an ideal response?
Between 1864 and 1900, the largest portion of railroad track (as a percentage of total annual construction) was laid in which region of the U.S.?
a. the Southeast b. the Northeast c. the Pacific Northwest d. the Great Plains region
The accumulation of money that a government has borrowed over time but has not yet paid back is a: a. government outlay. b. government debt
c. government deficit. d. government surplus.
Which of the following can use economic principles to improve how they make important decisions?
A) individuals B) managers in businesses C) government policymakers D) all of the above