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Textbook Site for:
Principles of Macroeconomics
, Third Edition
John B. Taylor, Stanford University
Internet Exercises
Chapter 1: The Central Idea
Specialization and the Division of Labor
Question:
Read Chapter 1 (Book 1) of Adam Smith's
Wealth of Nations
. Explain in your own words why Smith argues that specialization and division of labor increases a nation's productive capacity.
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