Which of the following is the best example of a vertically integrated firm?
a. General Electric, which produces light bulbs, jet engines, washing machines, and so on
b. Kinko's, which has a photocopy store near many colleges and universities
c. Americam Apparel, which from a single building in downtowm LA, controls the dyeing, finishing, designing, sewing, cutting, marketing and distribution of the company's product.
d. Intel, which makes computer chips for most of the computer manufacturers
e. Century 21, which has real estate offices that help people sell a house in one city and buy another house in another city
C
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If the output level is such that the aggregate expenditure line lies below the 45-degree line, which of the following is true?
a. Aggregate expenditure is greater than output, so inventories will increase and output will be raised. b. Aggregate expenditure is greater than output, so inventories will decrease and output will be increased. c. Aggregate expenditure is less than output, so inventories will decrease and output will be raised. d. Aggregate expenditure is less than output, so inventories will increase and output will be lowered. e. Aggregate expenditure is greater than output, so inventories will increase and output will be lowered.
Comparative advantage is a comparison among producers based on opportunity cost.
Answer the following statement true (T) or false (F)
Which of the following is NOT one of the core deliverables of a logistics system?
a. Excess capacity b. Timely Delivery c. Transparency d. Product availability e. Product availability
A mixed economic system is best described as an economy with a mix of
A) state and federal governments. B) domestic and foreign buyers. C) free markets and government control. D) for-profit organizations and not-for-profit organizations.