Sierra Uses Mathematical Models to Determine the Effect on Production

question 52

Multiple Choice

Sierra uses mathematical models to determine the effect on production if the cost of materials increases by 20 percent.She is utilizing _____.

• A)scientific management
• B)the behavioral science approach
• C)the functional approach
• D)the quantitative/systems approach

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Definitions:

Net Exports

The value of a country’s total exports minus its total imports, which can indicate the country’s economic strength in international trade.

Interest Rates

The percentage at which interest is charged or paid for the use of money.

Federal Reserve System

The Federal Reserve System, which is the main banking authority in the U.S., oversees monetary policy.

Elastic Currency

A currency system that can expand or contract in supply in response to economic needs, often managed by a central banking authority.