Which of the Following Are Equivalent Terms

question 92

Multiple Choice

Which of the following are equivalent terms?

• A) The absence of structural unemployment and the absence of cyclical unemployment
• B) Normal employment and the absence of structural unemployment
• C) Full employment and the absence of cyclical unemployment
• D) Normal employment and the absence of frictional unemployment
• E) Null employment and the absence of frictional unemployment.

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Definitions:

Unreliable Processes

Procedures or systems that fail to consistently perform to their designed specifications or standards, leading to errors, defects, or inefficiencies.

Lean Manufacturing

The use of lean principles to accomplish high quality, low cost, fast response, and immediate availability in a manufacturing setting. Also called just-in-time (JIT) processing.

Unnecessary Waste

Refers to materials or resources that are excessively consumed or not utilized efficiently, leading to avoidable loss or expense.

Inventory

Merchandise on hand (not sold) at the end of an accounting period.