During Last Year, a Country Produced 20,000 Pizzas and 10,000

question 5

Multiple Choice

During last year, a country produced 20,000 pizzas and 10,000 hamburgers and nothing else. The pizzas sold for $10.00 each and the hamburgers for $3.00 each. Nominal GDP was

• A)$390,000.
• B)$230,000.
• C)$460,000.
• D)$360,000.
• E)$70,000.

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Definitions:

Efficiency

A measure of how effectively resources (such as time, money, and labor) are used to produce desired outcomes, often expressed as a percentage.

Longest Task Time Heuristic

A strategy for optimizing processes by first scheduling tasks that take the longest amount of time to complete.

Precedence Diagram

A graphical representation of the sequence in which tasks must be performed in a project, showing the dependencies between tasks.

Theoretical Minimum

The lowest possible amount of effort or resources required to execute a task or process under ideal conditions.