To improve package delivery, one change UPS made involved improvements in how packages were routed. The firm started using more detailed maps to plan the routes for packages
As a result, the typical delivery driver could travel several miles less per day while delivering more packages. Which of the following statements best describes this change at UPS?
A) The firm is able to produce more output (deliver more packages) using the same number of inputs (trucks and drivers). Therefore, UPS has implemented a positive technological change.
B) Technological change refers only to the introduction of new products or improvements to existing products. As such, the scenario described in the question is not technological change.
C) The change implemented is not an example of technological change because it did not require the use of new machinery or equipment.
D) The scenario described is an example of management efficiency and not technological change. Essentially, the chain changed its way of operating its business.
A
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Assume that the U.S. dollar depreciates against the Japanese yen. What is the impact on aggregate expenditures and income?
A) Both increase. B) Both decrease. C) Aggregate expenditure increases and income decreases. D) Aggregate expenditure decreases and income increases.
The concept of utility is
A) subjective so that there can be no true measurement of someone's utility. B) subjective so measurement of someone's utility must be done scientifically. C) objective so that devices can be developed that would measure a person's utility. D) objective so that psychologists can measure utility and compare one person's utility with that of another person.