An Increase in the Unemployment Rate Would Be Shown on a Production

question 42

Multiple Choice

An increase in the unemployment rate would be shown on a production possibilities curve by

• A)shifting the entire curve outward.
• B)shifting the entire curve inward.
• C)moving from a point on or near the curve to a point closer to the origin,rather than shifting the entire curve.
• D)moving from a point inside the curve to a point on or at least closer to,the curve,rather than shifting the entire curve.

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Definitions:

Local Responsiveness

The ability of an organization to understand local conditions and adapt its products and practices to meet the needs of a specific market.

Low Cost Reductions

Low cost reductions refer to strategies or measures implemented to decrease the expenses involved in operating a business, production, or delivering services without compromising quality.

Operations Strategies

Plans and policies developed to achieve efficient manufacturing, service delivery, and overall operational performance.

Operations Manager

Someone whose job is to guide, plan, and monitor the production process and modify organizational practices in the creation of goods or services.