Which of the Following Statements About Learning Curves Is Generally

question 32

Multiple Choice

Which of the following statements about learning curves is generally TRUE?

• A)Management can decide to achieve a certain rate of learning.
• B)Learning curves were first quantified by the U.S.Postal Service.
• C)Using the "doubling" model,a learning curve with a rate of learning of 70 percent means the tenth unit takes 70 percent of the time that the twentieth unit will take.
• D)Learning curves are recognition of the concept that the time a task takes usually decreases with experience.

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Definitions:

Aggregate

A total or combined amount, level, or sum of different components, often used in economics to describe collective economic indicators.

Equilibrium

A state in a market where supply equals demand, and there are no external forces prompting change.

Farmland

Land used for farming and agricultural production.

Economic Rent

Extra income earned by a factor of production due to its scarcity or unique qualities, above what is necessary to bring it into use.