Which One of the Following Is a Positive Economic Statement

question 63

Multiple Choice

Which one of the following is a positive economic statement?

• A) An increase in the minimum wage will reduce employment for teenagers.
• B) The minimum wage should be increased.
• C) Social justice will be served by increasing the minimum wage.
• D) Thoughtful people oppose an increase in the minimum wage.

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Definitions:

Value Chain Optimization

A strategic process aimed at improving efficiency and competitive advantage by analyzing and optimizing each step involved in producing a product or service.

Enterprise Resource Planning (ERP) Systems

Integrated software platforms that manage a company's core business processes, such as finance, supply chain, operations, reporting, manufacturing, and human resource activities.

Electronic Data Interchange (EDI) Systems

A set of computer systems that allow the electronic transfer of business documents, such as orders and invoices, between organizations.

Just-In-Time (JIT) Inventory Systems

A supply chain management strategy that aims to reduce inventory costs by receiving goods only as they are needed in the production process.