Which of the following is NOT one of the core deliverables of a logistics system?
a. Infrastructural integrity
b. Product availability
c. Timely delivery
d. Protection against disruption
e. Operational efficiency
a. Infrastructural integrity
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As of 2013, the outstanding U.S. currency is more than $1 trillion, which suggests that the typical U.S. citizen holds $3,600 in cash. Is this an accurate inference? Why?
A) Yes; because dividing total currency by total U.S. population roughly works out to $3,600 per person. B) No; because criminals and foreigners hold large sums of dollars, so the average citizen holds far less. C) No; because the average citizen probably does not have $3,600 in her checking account. D) Yes; because the Fed rarely makes accounting mistakes when computing M1. E) none of the above
One characteristic of a Giffen good is that it
A) is a luxury good. B) is an inferior good. C) has an upward-sloping Engel curve. D) All of the above.
When marginal product is rising, marginal costs will: a. rising
b. remaining unchanged. c. falling. d. rising by an equal amount.
According to the text, what explains why a firm would produce different brands of an essentially identical (or highly close-substitute) good? With different brands, the firm
a. creates higher productivity b. increases its market share c. better satisfies demand d. increases the effectiveness of its advertising e. lowers the cost structures of each brand so that it becomes more efficient