The order of inventories for production as they are needed is known as ________
A) just-in-time production
B) production smoothing
C) work in process
D) stock out avoidance
A
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Which of the following was NOT a time period in which output in the U.S. sharply rose?
A. World War I B. the Roaring Twenties C. the early 1930s D. the 1960s E. the late 1990s
Suppose in Italy producers can make 10,000 dresses or 1,000 coats per day, while in Canada producers can make 14,000 similar dresses or 2,000 similar coats per day. Therefore
A) 1 dress costs 7 coats in Italy. B) 1 dress costs 10 coats in Italy. C) 1 coat costs 7 dresses in Canada. D) 1 coat costs 10 dresses in Canada.
Which of the following statements is correct?
A. If demand increases and supply decreases, equilibrium price will fall. B. If supply increases and demand decreases, equilibrium price will fall. C. If demand decreases and supply increases, equilibrium price will rise. D. If supply declines and demand remains constant, equilibrium price will fall.
(Consider This) During the Great Recession of 2007-2009, both real interest rates and investment spending declined. This suggests that:
A. the investment demand curve was positively sloped during this period. B. purchases of capital from abroad increased, and these were not reflected in investment spending figures for that period. C. firms were optimistic about future sales. D. the investment demand curve shifted inward.