Specialization can occur because
A) governments pass laws that require it.
B) varying skills differentiate workers.
C) absolute advantage creates specialization among laborers.
D) managers and laborers share job tasks.
B
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A negative relationship exists between the variable measured along the y-axis and the variable measured along the x-axis if
A) a reduction in the variable measured along the x-axis is associated with a reduction in the variable measured along the y-axis. B) an increase in the variable measured along the x-axis is associated with an increase in the variable measured along the y-axis. C) the variable measured along the x-axis and the variable measured along the y-axis move in the opposite direction. D) the variable measured along the x-axis and the variable measured along the y-axis move in the same direction.
In terms of price indexes, what is a COLA?
a. A measure of the quality of living b. A consumer price adjustment c. An increase in wages designed to match consumer price increases d. An estimate of gross domestic product e. A measure of producer surplus