In Terms of an Organization's Vision, Railroads May Have Lost

question 83

Multiple Choice

In terms of an organization's vision, railroads may have lost business because they:

• A)priced their services too high.
• B)defined their business too narrowly.
• C)are too slow and cumbersome.
• D)defined their business too broadly.

Understand the basics and importance of real GDP as a measure of economic activity and well-being.

Grasp the concept of inflation, how it arises, and its relation to GDP and GDP deflator.

Recognize the limitations of GDP as an all-encompassing measure of economic progress and quality of life.

Interpret the circular flow diagram, and understand the role of expenditure and income in the economy.