Use the Following to Answer Questions

question 8

Multiple Choice

Use the following to answer questions .
Exhibit: Foreign Exchange Market
-(Exhibit: Foreign Exchange Market) The supply of dollars curve slopes upwards because

• A) a higher exchange rate tends to make foreign goods and services more expensive for U.S. buyers, thereby raising the price of foreign currency in the foreign exchange market.
• B) a higher exchange rate tends to make foreign goods and services cheaper to U.S. buyers, thereby generating a higher quantity of dollars in the foreign exchange market.
• C) a lower exchange rate tends to decrease U.S. exports, thereby generating a lower quantity of dollars in the foreign exchange market.
• D) a lower exchange rate tends to increase U.S. imports, thereby raising the price of foreign currency in the foreign exchange market.

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Definitions:

Self-Managing Work Teams

Groups of employees granted the autonomy to plan, execute, and monitor their work activities with minimal direct supervision.

Continuous Quality Improvement

A systemic and persistent effort to make incremental improvements in processes and systems to enhance quality.

Continuous Improvement

A continuous endeavor aimed at enhancing products, services, or processes through both minor and major advancements.

Crosby's 'Four Absolutes'

A quality management philosophy emphasizing prevention over inspection, zero defects as the quality standard, quality measurement, and the quality performance standard must be zero defects.