Unformatted text preview: 4. In which stage of economic development? 5. Smith wrote, “The degree of the division of labor is limited by the extent of the market.” He concluded that nations should invest in transportation infrastructure. What is another way to extend the market? 6. We live in a world of specialized professions. That reflects what principle of production? 7. As explained in lecture, a “Fachidiot” is often another name for a highly trained expert. (T/F) 8. What major industry manufactures what Ewen calls “social insecurity”? 9. According to Ewen, consumer purchases reflect rational choices. (T/F) 10. What is the single most important industrial input that Georgia Tech provides to the economy?...
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This note was uploaded on 11/10/2009 for the course PST 3127 taught by Professor Klein during the Fall '08 term at Georgia Tech.
- Fall '08