Question Completion:
a. You are interested in looking at the impact of higher prices of imported oil in the overall cost of living.
b. The government is interested in whether increases in defense spending are affecting the price level.
c. An economic consulting firm is investigating the impact on the aggregate price level of more computers and electronic technology used in production.
Answer:
The GDP Deflator and the CPI
a. The CPI is used here, as its measure is not restricted to domestically produced goods and services.
b. The GDP Deflator is more appropriate here. Defense spending is not related to consumer goods and services but to government spending, which is a component of the GDP.
c. The GDP Deflator is more appropriate with this investigation. Computers and electronic technology used in production relate to business Investments, which are a component of the GDP and are not part of consumer goods and services or a component of the CPI.
Explanation:
The GDP deflator is exclusively used to measure the prices of all goods and services produced domestically in an economy and is based on the nominal or real GDP. On the other hand, the CPI (Consumer Price Index) is used to measure the weighted average prices of a basket of consumer goods and services, whether produced domestically or imported.
Answer:
Country of origin effects.
Explanation:
Country of origin effect can be defined as the effects the country manufacturing or producing a particular product has on how a potential customer tends to view the product.
A country image can greatly influence the perception of the customer towards the product, or could be a negative perception or a positive perception.
Some customers may tend to favor goods that are produced from their own country. For example most individuals favor clothes and shoes that are produced in Italy than the ones produces in Spain.
Answer:
D. number of different product lines the company carries
Explanation:
Product mix is referred to as product assortment which is the total number of product lines a company offers to its customers.
Efficiency is one of the <u>positive</u> impacts of technology on the workplace.
Technological advancement has resulted in many positive impacts on the workplace in both communication and production aspects. It has drastically increased the rate of production.
One of the most prominent impacts of technology on the workplace is the increased flow rate of work. People can communicate in different areas of the workplace more efficiently. Work that used to take hours before can now be done in minutes.
Measuring efficiency or productivity of workplace:
A simple method to have an idea about the efficiency or productivity of a workplace is to compare the input (total labor) and the output (total number of units produced).
Learn how worksheet creates an efficient process in the workplace from the link below
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