Which of the following is designated by points C’ and C in Exhibit 4?
a. Calvin and Wendy each benefit by specializing and trading their goods.
b. By specializing in food, Wendy can produce and trade 13 pounds of food per day.
c. In their exchange, the price of Wendy’s food is higher than the price of Calvin’s cloth.
d. Through trade, Wendy’s food production drops from 10 pounds to 7 pounds per day.
a. Calvin and Wendy each benefit by specializing and trading their goods.
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When the term random walk is used about stock prices, it means that:
a. buying high-priced stocks ensures a high return. b. prices are as likely to rise as to fall on any given day. c. prices tend to fall by greater amounts than they rise. d. stocks are a slow and boring way to make money.
JIT stands for:
A. justice, integrity, and transcendence in management ethics. B. juried information technology systems. C. just improved transportation systems. D. just-in-time production or inventory control systems.