Title: Economics 102 questions? Help? | Yahoo Answers
Headings: Economics 102 questions? Help?
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Economics 102 questions? Help?
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Content: Economics 102 questions? Help? | Yahoo Answers
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mar c
mar c
asked in Social Science Economics · 1 decade ago
Economics 102 questions? Help? Is there anyone willing to help me with my econ 102 problems!? 69. The specialization of labor
a. leads to a reduction in unemployment
b. means that less equipment will be employed when labor and capital are substitutes in production
c. expands the output a society can produce
d. decreases the costs to the firm of coordinating activities
e. effectively separates labor from management
70. The principle of specialization and exchange implies that
a. total production is highest when individuals specialize according to their absolute advantages
b. productive inefficiency increases as producers in society specialize
c. exchange can only occur when there is specialization in the economy
d. gains from specialization will only occur when society is operating at a point along its production possibilities frontier
e. total production is highest when individuals specialize according to their comparative advantages
71.