The business practice of looking for a firm that has best practices in an area and then emulating those practices is called
A. decision management.
B. organizational architecture.
C. competitive markets.
D. benchmarking.
Answer: D
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Differentiate between a pure strategy and a mixed strategy
What will be an ideal response?
If the GDP deflator rises from 185 to 190, what is the rate of inflation between the two years?
A) 270% B) 50% C) 5% D) 2.7%
Which of the following is an example of a normative economic statement?
a. The inflation rate in the United States decreased from 4 percent last year to 3 percent this year as a result of lower energy prices. b. The economy grew at an annual rate of 5 percent during the first quarter of this year. c. If two automobile companies merge, it is likely that the price of automobiles will rise. d. An increase in international trade benefits some workers but hurts others. e. The minimum wage should be increased so that low income workers can afford to keep up with the cost of living.
Which of the following does purchasing-power parity imply?
a. the foreign price level times the nominal exchange rate (given as amount of foreign currency per dollar) equals the U.S. price level. b. The price of domestic goods relative to foreign goods cannot change. c. The nominal exchange rate is the ratio of foreign prices to U.S. prices. d. All of the above are correct.