The Table Below Shows Total Output for an Economy Over

question 39

Multiple Choice

The table below shows total output for an economy over 3 years.
* millions of dollars
** real GDP measured in millions of 2007 dollars
TABLE 20-7
-Refer to Table 20-7.The nominal Gross Domestic Product in 2013 was

• A)$700 000.
• B)$724 000.
• C)$774 000.
• D)$798 000.
• E)$820 000.

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Definitions:

Outsourcing

Obtaining a good or service from an external supplier, often in international markets.

Make-Or-Buy Decision

The strategic choice between producing a good or service internally or purchasing it from an external supplier.

Operational Risk

A measure of a firm’s inability to document the work remote employees do, describe the different situations they might face, and direct their responses in each scenario.

Outsourcing Vendor

A third-party company that provides services or performs tasks that a company might otherwise have done in-house, often to save costs or access specialized expertise.