Which of the following is true about absolute advantage principle?
A) According to this approach, enhanced product specialization adversely affects communal welfare.
B) This approach allows the nation to consume more than it otherwise could, generally at lower cost.
C) This is the only approach that can be used to explain why nations attempt to run a trade surplus.
D) This approach explains the process by which firms acquire and retain one or more value-chain activities inside the firm.
B
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Which of the following is a survey question Jeannie could ask a boutique buyer?
A) Can we arrange delivery for next Wednesday? B) Are the limited sizes of the other swimsuits you carry affecting sales? C) What are the most common swimsuit sizes sold to guests at the resort? D) Is it correct that the swimsuit lines you currently stock do not appeal to older women? E) What if we could give you a line to sell that is luxurious but also looks as good on older and bigger women as it does on smaller women?
Using the information in Table J.1 and the FCFS rule, what is the average flow time?
A) fewer than or equal to 19 days B) greater than 19 days but fewer than or equal to 21 days C) greater than 21 days but fewer than or equal to 23 days D) greater than 23 days