Outsourcing is a management innovation that emphasizes:
A. hiring only managers educated in another state.
B. assignment of management and production responsibilities to another firm.
C. reduction in the purchase of resources to the bare essentials.
D. vertical integration of production and service.
Answer: B
Economics
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Compared to our trade deficit with Japan from 2002-2009, our deficit with China was
A. much larger. B. slightly larger. C. slightly smaller. D. much smaller.
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Assuming that the growth rate of full-employment output is 3%, and that the actual unemployment rate fell 2 percentage points in the last year, Okun's Law predicts that output growth rate over the past year was
A. 5%. B. 7%. C. 3%. D. -1%.
Economics