When a Firm Adopts a Lean Manufacturing Operating Environment

question 68

Multiple Choice

When a firm adopts a lean manufacturing operating environment,

• A) new,more efficient machinery and equipment must be purchased and installed in the original layout
• B) machinery and equipment are moved into small autonomous production lines called manufacturing cells
• C) new machinery and equipment must be purchased from franchised JIT dealers
• D) employees are retrained on different equipment but the plant layout generally stays unchanged

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Definitions:

Trade Balance

The difference between a country's exports and imports of goods and services.

U.S. Government

The federal government of the United States, a constitutional republic comprising the executive, legislative, and judicial branches.

Net Capital Outflow

The difference between the domestic country's sale of assets to foreigners and its purchase of assets from foreigners during a specific period.

Loanable Funds

The market model representing the supply and demand for loans, where the interest rate is determined.