The Strategy Where the Production Rate Is Synchronized with the Demand

question 59

Multiple Choice

The strategy where the production rate is synchronized with the demand rate by varying machine capacity or hiring and laying off employees as the demand rate varies is the

• A) adjustable strategy.
• B) Chase strategy.
• C) level strategy.
• D) mixed strategy.
• E) time flexible strategy.

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Definitions:

Great Recession

A significant decline in economic activity spread across the economy, lasting more than a few months, typically visible in real GDP, real income, employment, industrial production, and wholesale-retail sales, specifically referring to the global economic downturn that began in 2007 and lasted until 2009.

Real GDP

A measure of a country's economic output adjusted for price changes (inflation or deflation), providing a more accurate reflection of an economy's size and growth rate.

Gross Investment

The total expenditure on new capital assets plus the replacement of depreciated assets within an economy in a specific time period.

Net Domestic Product

The aggregate worth of every product and service generated inside a nation over a particular timeframe, deducting depreciation.