Which of the Following Would NOT Reflect Friedman's Notion of a Flat

question 57

Multiple Choice

Which of the following would NOT reflect Friedman's notion of a flat earth?

• A) the ability of financial capital and production to flow easily from one place to another
• B) the ability of financial capital to change locations to take advantage of technological innovation
• C) the ability of financial capital to change locations to take advantage of labor costs
• D) the ability of financial capital to develop new products that can be shipped and sold anywhere
• E) there are local differences in geographies that may encourage or inhibit the flow of ideas and goods around the globe

Understand and identify discrete and continuous random variables and their possible values.

Calculate probabilities related to discrete random variables.

Apply laws of expected value and variance to find specific values for given distributions.

Understand and apply the concept of a Poisson distribution, including its mean and variance properties.

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Definitions:

Technology

The application of scientific knowledge for practical purposes, especially in industry.

Production Enhancement

Strategies and methods employed to increase the efficiency, output, or quality of products in a manufacturing or production process.

Affluent Society

A term describing a society that has a high level of wealth and consumption, often associated with high living standards and disposable income.

Low Cost

A strategy or condition of minimizing expenses to offer products or services at a competitive price point.