Which of the following terms describes the process wherein many of the different stages of producing a good happen in different geographic locations?
a. supply chain management
b. splitting up the supply chain
c. splitting up the value chain
d. value Chain management
c. splitting up the value chain
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When long-run average cost decreases as output increases there are definitely
A) increasing marginal returns. B) economies of scale. C) Both answers A and B are correct. D) Neither answer A nor B is correct.
When one nation specializes in the production of one good and another nation specializes in the production of another good, more of both goods can be produced
Indicate whether the statement is true or false
In explaining internally induced cycles, changes in investment and changes in national income are
a. independent of each other b. mutually reinforcing c. unrelated to the income multiplier d. rarely moving in the same direction e. dependent on changes in population
Which one of the following is NOT a component of aggregate demand?
A. government purchases B. goods exported to other countries C. consumption spending D. investment expenditures