Which of the following did not occur during the Industrial Revolution?

A) Production became more reliant on highly specialized equipment.
B) A more efficient division of labor was promoted.
C) Workers bore much of the costs of production.
D) The transaction costs of contracting with individual resource owners were reduced.
E) Technological development increased the productivity of most workers.

The cost of testing incoming materials received from suppliers would be classified as a(n) :

A) prevention cost.
B) appraisal cost.
C) internal failure cost.
D) external failure cost.

If someone has failed to live up to a promise made to a business organization, the business organization should:

A) Seek a legal remedy within the courts
B) Ask the lawmakers to impose a punishment upon the violation
C) Publicly shame the violator for breaking his promise
D) Turn to the executive branch to impose legal penalties
E) Ask lawmakers and the executive branch to impose consequences

(Advanced analysis) The demand for commodity X is represented by the equation P = 10 - 0.2 Q and supply by the equation P = 2 + 0.2 Q. The equilibrium price for X is

A) $2.
B) $4.
C) $6.
D) $7.

When using regression analysis to determine estimated costs, what criteria are necessary to evaluate a particular regression line?

A) Closeness to pre-analysis guess
B) Goodness of fit
C) Coefficient of determination
D) Goodness of fit AND coefficient of determination

Which of the following is true regarding the rights of an employer who is held liable and pays a third party not because of the employer's negligence,but under the doctrine of respondeat superior for the negligence of an employee?

A) The employer has no right to receive any reimbursement from the negligent employee.
B) The employer has the right to recover from the negligent employee one-half of any amount paid to the third party.
C) The employer has a right of indemnification from the negligent employee.
D) The employer can recover from the negligent employee any amount paid to the third party,but only if it can be shown that the employee's negligence was related to the violation of a statute.
E) The employer can recover from the negligent employee one-half of any amount paid to the third party,but only if it can be shown that the employee's negligence was related to the violation of a statute.