) in Exhibit 19­3, If the World Price of Tulips

question 11

Multiple Choice

) In Exhibit 19­3, if the world price of tulips is $1 and there are no traderestrictions, The Netherlands will

• A)produce 7,000, consume 10,000, and export 3,000 tulips
• B)produce 10,000 and consume 10,000 tulips
• C)produce no tulips
• D)import all of the tulips that it consumes
• E)consume all of the tulips that it produces

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Definitions:

Social Factors

Aspects of society and culture that influence individuals' behaviors, actions, and preferences.

Productivity Increase

A rise in the output of goods or services relative to the input of resources such as time or labor.

Performance Excellence

The achievement of outstanding performance in operations, customer satisfaction, and financial outcomes.

Peters and Waterman

Authors of "In Search of Excellence," a book that presents eight attributes that excellent companies have in common.