Suppose There Has Been an Increase in Investment

question 76

Multiple Choice

Suppose there has been an increase in investment.As a result,real GDP will ________ in the short run,and ________ in the long run.

• A)increase;increase further
• B)increase;decrease to its initial value
• C)decrease;decrease further
• D)decrease;increase to its initial level

Recognize the critical decisions in operations related to manufacturing and service sectors.

Understand the concept of a knowledge society.

Grasp the impact of globalization on organizations.

Learn the importance of decision-making in operations management.

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Definitions:

Lean Production

A systematic method for waste minimization within a manufacturing system without sacrificing productivity, which can involve the identification and steady elimination of non-value-added activities.

High Interaction

Describes situations or services that require significant direct contact and active participation between individuals, such as customer service or healthcare.

Cross-Trained

Refers to individuals or employees who have been trained in multiple skills or job functions, enhancing their versatility within an organization.

Service Processes

The sequence of steps or actions taken to deliver a service to customers.