It is sometime useful to view each step in the supply chain as a(n)
A) single market.
B) integrated process.
C) horizontal process.
D) vertical process.
A
You might also like to view...
The figure above shows the housing market in the city of Appleville. A rent ceiling of $650 per month is imposed. With the rent ceiling, the quantity of housing rented in Appleville is
A) 200 units below the efficient level. B) 100 units above the efficient level. C) 300 units below the efficient level. D) efficient.
New classical economists believe that wages are inflexible
a. True b. False Indicate whether the statement is true or false
Assume a two-country, two-good, two-input model where the following relationships hold:(K/L)U.S. > (K/L)ROW(K/L)automobiles > (K/L)shoes (K/L)U.S. is the capital-labor ratio in the United States, (K/L)ROW is the capital-labor ratio in the Rest of the World, (K/L)automobiles indicates the capital-labor ratio in the production of automobiles, and (K/L)shoes indicates the capital-labor ratio in the production of shoes.Assume further that technology and tastes are the same in the United States and the Rest of the World. The relationships shown here indicate that, with no trade, in the United States
A. the relative labor endowment is higher than in the Rest of the World. B. the price of shoes relative to automobiles is lower than in the Rest of the World. C. the relative capital endowment is the same as in the Rest of the World. D. the price of automobiles relative to shoes is lower than in the Rest of the World.
The notion of business investment being related to interest rates is shown when interest rates are
A. higher because more projects (where businesses borrow capital to start new lines of business) are profitable. B. higher because people are less likely to buy expensive goods on installments. C. higher because people are more likely to buy expensive goods on installments. D. higher because fewer projects (where businesses borrow capital to start new lines of business) are profitable.