One important lesson to keep in mind during benchmarking is that
A. benchmarking is possible only if all environments for the firms under consideration match.
B. differences in organizational structures do not matter.
C. benchmarking is always a value-adding strategy.
D. different architectures are appropriate for different environments.
Answer: D
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Using the standard 45° line diagram, how does a decrease in net exports effect the expenditure schedule?
A. It increases the slope of the expenditure schedule. B. It decreases the slope of the expenditure schedule. C. It shifts the expenditure schedule upward. D. It shifts the expenditure schedule downward.
When a firm is operating at its minimum efficient scale, its short-run average total cost of production is minimized
a. True b. False
Which of the following is true?
a. Frictional unemployment implies a lack of available jobs. b. During a recession, cyclical unemployment will be low. c. When an economy is at full employment, actual unemployment will be less than the natural rate of unemployment. d. When actual GDP equals potential GDP, the actual unemployment rate will equal the economy's natural rate of unemployment.
Suppose that in a perfectly competitive market, firms are making an economic profit. In the long run, we know for sure that
a. some firms will leave the market b. the market price will rise c. the market supply curve will shift to the left d. economic profit will become zero e. production will be less than short-run production