If an Economy Is Producing a Level of Output Which

question 160

Multiple Choice

If an economy is producing a level of output which is lower than the equilibrium level, planned expenditures ________ total output and ________ goods and services are being produced than are being demanded.

• A) exceed; more
• B) exceed; fewer
• C) are less than; more
• D) are less than; fewer

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Definitions:

Turnaround

The process of implementing significant changes in a company to address financial or operational issues and improve performance and profitability.

Multidomestic Strategy

A strategy that customizes products and advertising to best fit local needs.

Geocentric View

An approach to international business that sees similarities and differences everywhere and seeks to build strategies that leverage global efficiencies without being blind to local needs.

Transnational Strategy

A strategy that seeks efficiencies of global operations with attention to local markets.