Economy X has just one worker, while Economy Y has 100 workers. Both have the same capital and land resources and produce the same good. If labor specialization occurs in Economy Y, we would expect Economy Y to produce
a. exactly the same quantity of goods as Economy X
b. 100 times the quantity of goods as Economy X
c. less than 100 times the quantity of goods as Economy X
d. more than 100 times the quantity of goods as Economy X
e. more inefficiently than Economy X
D
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_____________ are the glue that holds any business together, refers to a series of events or activities that take place in a specific time and space, also applies to families with shared commitment over time
a. Metro neighbors b. Value chains c. Traditional tasks d. Triad aims
From the perspective of the United States, an increase in the nominal exchange rate will cause which of the following?
A) the dollar becomes less expensive to foreigners B) foreign goods are more expensive to Americans C) foreign currency is more expensive to Americans D) American goods are more expensive to foreigners E) none of the above