Companies Have Adopted Various Slogans to Describe Initiatives to Develop

question 51

Multiple Choice

Companies have adopted various slogans to describe initiatives to develop lean systems. Which one of the following slogans would not be consistent with the philosophy of lean systems?

• A) hidden inventory
• B) material as needed
• C) synchronous manufacturing
• D) stockless production

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Definitions:

Inflation

A measure of the rate at which the general level of prices for goods and services is rising, and, subsequently, purchasing power is falling.

Inflation Rate

The rate at which the overall cost of goods and services in an economy increases over time.

Tax Rate

The percentage at which an individual or corporation is taxed by the government on income or profits.

M x V = P x Y

The equation representing the quantity theory of money, where M is the money supply, V is the velocity of money, P is the price level, and Y is the real output.