As a Result of a Successful Attempt by Government to Cut

question 119

Multiple Choice

As a result of a successful attempt by government to cut the economic pie into more equal slices,

• A)the pie gets larger,and there will be more pie overall.
• B)the pie gets smaller,and there will be less pie overall.
• C)it increases the reward for working hard,resulting in people producing more goods and services.
• D)those who earn more income pay less in taxes.

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Definitions:

WIP Inventories

refers to Work-in-Process Inventories, which consist of materials and products that are partially completed in the production process.

VMI Inventories

Vendor Managed Inventory; a supply chain management practice wherein the supplier of goods manages levels of inventory at the customer's premises.

EOQ

Economic Order Quantity, a formula used to determine the optimum order quantity that minimizes total inventory costs.

Dependent Demand

Refers to the demand for components or raw materials that is driven by, and directly related to, the demand for the finished goods they contribute to.