Comparative advantage differs from absolute advantage in that the former ________, whereas the latter ________
A) holds that countries should specialize their production; does not
B) holds that trade should be kept as nearly in balance as possible; says countries should seek a favorable balance of trade
C) bases trade on natural advantages; bases trade on acquired advantage
D) states that there is a basis of trade even if one country can produce everything more efficiently than another country; does not deal with this issue
D
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A waiting line, or queuing, system has three parts, which are:
A) distribution of arrival times, discipline while waiting, and distribution of service times. B) arrival rate, service rate, and utilization rate. C) arrival discipline, queue discipline, and service sequencing. D) arrivals or inputs, queue discipline or the waiting line itself, and the service facility. E) sequencing policy, penalty for reneging, and expediting of arrivals.
Which statement about conceptual development is BEST?
A) A project goal of "significantly increase computer performance" is better than "improve processing speed 20%" because the team may exceed 20%. B) It is vital that a best approach to solving a problem be locked in as soon as possible to save analysis time downstream. C) Conceptual development begins with the process of reducing the project's overall complexity to a more basic level. D) Project goals should be optimistic to the point of excess.