When the Current Production of Goods and Services in an Economy

question 79

Multiple Choice

When the current production of goods and services in an economy is greater than planned aggregate expenditure, _____

• A) inventories of goods and services will increase.
• B) firms will increase production to replenish depleted inventories.
• C) businesses and households will increase planned aggregate spending.
• D) the price level will automatically rise to restore equilibrium in the economy.
• E) leakages must equal planned injections.

Explain the strategies for managing cultural diversity within organizations.

Elaborate on the role and implications of outsourcing in human resource management.

Discuss the core values of total quality management and its relevance to human resource management.

Understand the strategic role of human resources in gaining a competitive advantage.

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Definitions:

Market Share Theory

Product liability theory which holds that when it is impossible to identify the manufacturer of a particular product that caused harm, the plaintiff may sue all manufacturers of the product, with liability apportioned among them on the basis of each one’s market share.

Products Liability Action

A legal claim against a manufacturer or seller for producing or selling a defective product causing injury or damage.

MacPherson Case

A landmark legal case that established the principle of duty of care in negligence, making manufacturers liable for harm caused by defective products.

Foreseeable Plaintiff

A person who is reasonably expected to be affected by a defendant's actions, thus entitled to protection under the duty of care in negligence law.