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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If with a small decrease in the price of a good, the quantity supplied falls to zero, the supply of the good is said to be:
A) unit elastic. B) inelastic. C) perfectly inelastic. D) perfectly elastic.
Which of the following will most likely reduce the natural rate of unemployment?
a. an increase in the minimum wage b. an increase in unemployment benefits c. an increase in the proportion of prime-age workers (35-54) as a share of the labor force d. an increase in the labor force participation rate of teenagers
Refer to the diagram and assume the economy is initially at point b 1 . Which of the following movements is consistent with the traditional Phillips Curve?
A. The movement from b 1 to b 2.
B. The movement from b 1 to c 1.
C. The movement from c 1 to b 2.
D. The movement from b 2 to b 1.
The key difference between a stock and a flow is that a flow is measured ________ , while a stock is measured ________
a. at a point in time; over an interval of time b. over an interval of time; at a point in time c. over a single year; over a single month d. over a single month; over a single year