Businesses keep inventories in order to:
a. meet a certain level of expected sales.
b. keep prices up artificially
c. decrease their fixed cost of production.
d. benefit from economies of scale.
a
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Economic growth is usually defined as
A) the increase in output over time, as measured by real per capita Gross Domestic Product (GDP). B) the reduction in the real cost of necessities. C) the rate of increase in output divided by the increase in labor. D) the increase in input availability.
An indifference curve consists of quantity combinations of two goods that yield:
a. equal marginal utilities. b. negative marginal utilities. c. the same price ratios. d. the same total satisfaction.
Monetarists maintain that
a. the best way to study the economy is with the expenditure schedule. b. control over the money supply implies control over real GDP. c. velocity is not constant, but is fairly predictable. d. All of the above are correct.
What do we know about service failures?
a. Statistics show that out-of-stock occurrences have reduced retailer's overall sales by four percent b. Costs of stockouts are not shared equally among members of the supply chain c. Calculating the true cost of a stockout is very difficult d. All of the above