Division of labor refers to
A) dividing tasks up into several subtasks and having one person perform these subtasks in a certain order.
B) the separation of hourly workers from salaried workers.
C) assigning different workers to different tasks.
D) separating union workers from nonunion workers.
Answer: C
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Smart cards will not much affect the demand for money if
A) the money supply is defined to include smart card balances. B) the money supply is defined to exclude smart card balances. C) the balance of the smart card is not considered to be electronic money. D) the reserves of the card issuing institution fall when the smart card is "loaded" with funds from an account the customer already has at that institution.
A rational decision maker will take only those actions for which the expected marginal benefit
a. is positive b. is at its maximum level c. is greater than or equal to the expected marginal cost d. is less than the expected marginal cost e. exactly equals the expected marginal cost