Under a Lean Environment, Employees Have the Responsibility and Authority

question 36

Multiple Choice

Under a lean environment, employees have the responsibility and authority to

• A)purchase inventory
• B)determine output amounts
• C)make decisions about operations, rather than waiting for management
• D)make engineering changes

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Definitions:

Net Capital Outflow

The difference between the domestic country's total investment abroad and foreign investments within the country, over a specific period of time.

Net Exports

The value of a country's total exports minus its total imports, representing the net value of goods and services being sold abroad.

Net Capital Outflow

The difference between a country's purchase of foreign assets and the sale of domestic assets to foreigners in a given time period.

Real Exchange Rate

The nominal exchange rate adjusted for differences in price levels between two countries, showing how many units of a foreign product can be purchased with one unit of a domestic product.