The most famous story about organizing tasks into jobs comes from Adam Smith's tale of the pin factory. In that story, he argues that

A. cross-training is critical for productivity.
B. one worker should be assigned all the tasks in pin construction.
C. coordination is the biggest problem for factory efficiency.
D. specialization of jobs into simple tasks increases productivity.

Answer: D

Economics

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What is the most an individual would be willing to pay on January 1st for a bond that promises to pay $500 at the end of the year for the next three years if the market rate of interest is 5 percent? Explain

What will be an ideal response?

Economics

Advocates of a progressive income tax use arguments EXCEPT for which of the following?

A) A progressive tax system taxes according to ability to pay. B) A progressive tax system taxes according to benefits received. C) A progressive tax system helps redistribute income away from the rich and towards the poor. D) A progressive tax system maximizes government revenues.

Economics