The World Price of a Pound of Almonds Is $4

question 110

Multiple Choice

The world price of a pound of almonds is $4.50. Before Uruguay allowed trade in almonds, the price of a pound of almonds there was $3.00. Once Uruguay began allowing trade in almonds with other countries, Uruguay began

• A)exporting almonds and the price per pound in Uruguay remained at $3.00.
• B)exporting almonds and the price per pound in Uruguay increased to $4.50.
• C)importing almonds and the price per pound in Uruguay remained at $3.00.
• D)importing almonds and the price per pound in Uruguay increased to $4.50.

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Definitions:

Frederick W. Taylor

Regarded as the father of scientific management, his work focused on improving industrial efficiency through the study of workflows and worker productivity.

Henry L. Gantt

An American mechanical engineer and management consultant who developed the Gantt chart, a popular project management tool.

Statistics

The branch of mathematics dealing with the collection, analysis, interpretation, and presentation of masses of numerical data.

Scientific Management

A management theory that examines and restructures workflows to enhance economic effectiveness and labor productivity.