Special Drawing Rights Are

question 231

Multiple Choice

Special Drawing Rights are

• A)the reserve assets created by the International Monetary Fund for countries to use in settling international payment obligations.
• B)the price of one nation's currency in term of the currency of another country.
• C)a category of the balance of payments transactions that measures flows of real and financial assets.
• D)a category of the balance of payments transactions that measures the exchange of merchandise, the exchange of services, and unilateral transfers.

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Definitions:

Just-In-Time (JIT) Shipments

A logistics strategy where materials and products are delivered exactly when needed for production or sale, minimizing inventory levels and storage costs.

Moving Assembly Line

An innovation in manufacturing where products are assembled as they move along a conveyor belt, significantly improving efficiency.

Transformation Process

The conversion of inputs into outputs, thus transforming raw materials, labor, and information into products or services.

Productivity Variables

Productivity variables are factors that influence the efficiency and effectiveness with which resources are converted into outputs, including technology, labor skills, and management practices.