The division of labor facilitates productivity increases for all of the following reasons, except one. Which is the exception?
a. It allows people to do those tasks for which they have the greatest natural ability.
b. Workers get better at tasks, the more they repeat them.
c. The more experience workers gain by specializing in a task, the more likely they will enjoy that task.
d. More sophisticated production techniques are introduced.
e. The division of labor often permits the introduction of labor-saving machinery.
C
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In addition to being subject to the Fed's reserve requirements, the banks are also required to maintain a capital requirement, which is
A) the ratio of its deposits to its reserves. B) the ratio of its loans to its reserves. C) the ratio of its total assets to its total liabilities. D) the ratio of its equity to its total assets.
If the government decreased urban welfare payments by a dollar for every dollar increase in farm subsidies, which of the following is the likely net effect?
a. An increase in the budget deficit because government spending has increased b. A decrease in the budget deficit because transfer payments are not included in the government's budget c. An increase in the budget deficit because transfer payments have increased d. An increase in the budget deficit because farm subsidies are transfer payments but urban welfare payments are not e. No change in the budget deficit