Answer:
D. Through the government purchases multiplier, the $1 increase in government spending will lead to an increase in aggregate demand and national income, which will lead to an increase in induced spending.
Explanation:
We know,
Multiplier = Changing real equilibrium GDP ÷Change of government spending.
If we increase the multiplier, government spending will lead to an increase in aggregate demand that is potential GDP is higher than actual GDP and national income, which will lead to an increase in induced spending. Therefore option D is the correct answer as options A, B, and C do not meet the requirements.
Answer:
C
Explanation:
The correct option is C :price to increase and the profits of firms in the market to decrease
This can be explained by the fact that, since it always been mandatory to possess a license in order to work in a particular market. This certainly reduces the competition in the market and thus, the prices would increase; therefore, as the firms have to pay for licence thus would reduce the profits of firm.
Answer:
Group technology
Explanation:
Group technology: This can be defined as a
Manufacturing technique in which functionally-grouped machines are organized into cells to achieve efficiencies.
Group technology is based on the principle that many problems are similar and by grouping similar problems, a single solution can be found to solve a set of problems, saving time and effort.
Group technology is a manufacturing technique in which parts having similarities in manufacturing process and functions are manufactured in one location using a small number of machines.