In 2011, the Total Logistics Cost Represented About 8

question 14

Multiple Choice

In 2011, the total logistics cost represented about 8.5 percent of the GDP, or $1 trillion in the _________________.

• A) U.S.
• B) Ireland
• C) Portugal
• D) Belgium
• E) Romania

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Definitions:

Rate

A ratio that measures how one quantity changes in relation to another.

Sum

The outcome of summing two or more numbers.

Infinite Series

A sum of infinitely many terms following a specific pattern.

Binomial Coefficient

A numerical value that represents the number of ways in which k objects can be chosen from n objects without repetition and regardless of order.