A Nation Will Export a Good If Its

question 212

Multiple Choice

A nation will export a good if its

• A) no-trade, domestic price is equal to the world price.
• B) no-trade, domestic price is less than the world price
• C) no-trade, domestic price is greater than the world price.
• D) no-trade, domestic quantity is less than the world quantity.
• E) no-trade, domestic quantity is greater than the world quantity.

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Definitions:

Kanban

The Japanese word for card, which has come to mean “signal”; a kanban system moves parts through production via a “pull” from a signal.

Safety Stock

Additional inventory maintained to mitigate the risk of stockouts due to uncertainties in demand or supply chain disruptions.

Lead Time

The amount of time that passes from the start of a process until its completion, often used in manufacturing and project planning.

Level Schedules

Production planning method that maintains a consistent output rate or workforce level, avoiding fluctuations in response to changing demand.