Dissatisfaction with Public School Education Has Led Many Parents to Try

question 5

Multiple Choice

Dissatisfaction with public school education has led many parents to try home schooling for their children.If parents reduce their work from a full-time to a part-time load in order to spend time teaching their children at home, how will this affect GDP?

• A)GDP will stay the same.
• B)Real GDP will increase and nominal GDP will decrease.
• C)Both real and nominal GDP will increase.
• D)GDP will decrease.

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Definitions:

Small Lot Sizes

Manufacturing or purchasing strategy characterized by producing or acquiring goods in small quantities, which can reduce inventory costs and improve flexibility.

Material Handling

The movement, protection, storage, and control of materials and products throughout manufacturing, warehousing, distribution, consumption, and disposal processes.

JIT

Just-In-Time; an inventory management strategy that aims to increase efficiency and decrease waste by receiving goods only as they are needed in the production process.

Quality

The degree to which a set of inherent characteristics of a product, service, or process fulfills requirements.