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An assembly line with 11 tasks is to be balanced.The longest task is 2.4 minutes,the shortest task is 0.4 minutes,and the sum of the task times is 18 minutes.The line will operate for 600 minutes per day.
(a)Determine the minimum and maximum cycle times.
(b)What range of output is theoretically possible for the line?
(c)What is the minimum number of stations needed if the maximum output rate is to be sought?
(d)What cycle time will provide an output rate of 200 units per day?
Expected Inflation
The rate at which consumers, businesses, and investors expect prices to rise over a future period.
Long-run Phillips Curve
The long-run Phillips Curve is an economic concept that illustrates the relationship between inflation and unemployment, suggesting that in the long run there is no trade-off between these two factors.
Potential Output
The upper limit of real GDP sustainable over an extended period without inflating the inflation rate.
Phillips Curve
A graphical representation showing an inverse relationship between the rate of unemployment and the rate of inflation in an economy.
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