Proc 6000 Multiple Choice Questions Name 435277

Proc 6000multiple Choice Questionsname

CLEANED: Explain why the Hecksher-Ohlin theorem would predict that cross hauling would not exist. PROC 6000 Multiple-Choice Questions WEEK 6 MULTIPLE-CHOICE QUESTIONS COVERING PROC 5810 & 5820 ITEMS (1). Which of the following is not legislation that has impacted supply management in the United States? (a). Caustic Waste Superfund Cleanup Act, (b). Clean Air Act, (c). Superfund Law, (d). Resource Conservation Recovery Act (RCRA). (2). When all or part of a shipment received from a supplier is nonconforming, the buyer has the right under the UCC to all of the following except: (a). Hold the material for future determination, (b). Repair the material, (c). Use the material as is, (d). Completely or partially reject the material. (3). Which of the following bullets in the list does not reflect a Global Sullivan Principle? (a). Express support for universal human rights, (b). Promote equal opportunity, (c). Respect voluntary freedom of association, (d). Use bribery in foreign countries when necessary and ethically acceptable based on cultural customs. (4). Which of the following is not a typical prerequisite to successful cross-functional teams? (a). Executive sponsorship, (b). Qualified team members, (c). Adequate time, (d). Overtime hours, (e). Inter-firm teams. (5). Which of the following points does not describe part of the evolution of quality management? (a). Prior to 1980s, the gurus of quality influenced corporate disciplines, (b). The corporate disciplines in turn influenced corporate philosophies that increased the importance of quality management, (c). The corporate disciplines influenced the quality gurus, (d). The corporate philosophy has essentially driven the selection of a management system. (6). Which of the following is not one of Deming’s fourteen points? (a). Improve constantly and forever the system of production and service, (b). Institute training on the job, (c). Adopt and institute modern methods of supervision & leadership, (d). Use inspection to ensure zero defects. (7). Which of the following is not a key law or regulation that impacts supply management in the USA? (a). Uniform Commercial Code, (b). The Clinton Act, (c). The Clayton Act, (d). The Robinson-Patman Act. (8). A purchase contract must have certain considerations to be legal. Which of the following is not one of these considerations? (a). Agreement, (b). Signers must be over 21, (c). Consideration, or mutual obligation, (d). Competent parties. (9). Which of the following issues are not addressed by the Contracts for the International Sale of Goods (CISG)? (a). Acceptance of an offer, (b). Contract price, (c). Revocation of an offer, (d). Language used in written contract. (10). Which of the following is not a recognized quality management approach? (a). Total Quality Management (TQM), (b). Continuous Improvement, (c). Six Sigma. (d). Quality Ensured in the Supply Triangle (QEST). (11). Which of the following is not one of the seven wastes? (a). All processing, (b). Overproduction, (c). Unneeded motion, (d). Unneeded transportation. (12). Which of the following is not a quality award? (a). Malcolm Baldridge Award, (b). European Quality Award, (c). ISO 9000, (d). Deming Prize. (13). In the investigation phase, the development of alternatives encompasses all of the following considerations, except one. Which does not belong to the list? (a). Value analysis, (b). Suitability, (c). Producibility, (d). Component availability. (14). Which of the following is not associated with the development phase of the design process? (a). Development of prototypes, (b). Design reviews, (c). Qualification testing, (d). Value analysis. (15). Which of the following is not true about risk sharing in government contracts? (a). Government usually wants the seller to assume all technical and cost risk, (b). In situations where the risk is high, the supplier must add large contingency sums in the price, (c). Government supply managers should consider sharing the risk cost through reimbursement and/or incentive contracts, (d). Government supply managers should consider sharing the risk cost through fixed firm Contracts. (16). Which of the following is generally not true about government contracts? (a). The contract may be terminated for default, (b). The contract may be terminated for not fulfilling the terms of the contract, (c). The government may not terminate a contract for its convenience, (d). The government may debar, suspend, or declare ineligible an errant contractor. (17). Which of the following does not fit within the code of ethics for government service? (a). Make private promises only when needed, (b). Engage in business with the Government, (c). Never use any information gained confidentially in the performance of Government duties as a means for making private profit, (d). Expose corruption wherever discovered. (18). Which of the following activities is typically not conducted in the production phase of the design process? (a). Process Control, (b). Material Availability Research, (c). In Process & Final Testing, (d). Adjust and calibrate the performance. (19). Which of the following questions does not typically belong on a value-engineering checklist? (a). Can the item be eliminated?, (b). Can the product quality be lowered to reach a lower price point?, (c). If the item is not standard, can a standard item be used?, (d). If it is a standard item, does it completely fit the application, or is it a misfit? (20). All of the following are considerations when assessing technical risk except: (a). Type and complexity of the item or service, (b). Supply and demand patterns of the marketplace, (c). Stability of design specifications or statement of work, (d). Availability of historical pricing data. (21). In the PDCA Cycle the D stands for which of the following? (a). Document, (b). Do, (c). Develop, (d). Describe. (22). Which of the following is not one of the seven wastes as interpreted by Honda? (a). Waste in the Work Itself, (b). Process Time, (c). Inventory, (d). Wasted Operator Movement. (23). Which of the following is not a class of manufacturing inventory? (a). Raw Materials, (b). Finished Goods, (c). In-process Goods, (d). Stored Materials. (24). A listing of Intermediate Predecessor activities is important information in a Single Time Estimate CPM analysis for which of the following reasons? (a). It makes it possible to understand the relationship of the CPM network of activities, (b). It provides useful timing information, (c). It includes cost information, (d). It is the probability information in the final step of the CPM. (25). In an MRP program, the program accesses the status of any file in specific time periods called which of the following? (a). Cubed time units, (b). Time buckets, (c). BOM units, (d). Modular units.

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The Hecksher-Ohlin theorem, a fundamental principle in international trade theory, predicts that cross hauling would not exist under certain assumptions about factor endowments and differences among trading nations. Essentially, the theorem states that countries will export goods that use their abundant and cheap factors of production and import goods that use their scarce factors. This specialization based on comparative advantage leads to efficient resource allocation and benefits for all trading partners. Consequently, the theorem implies that cross hauling—where countries import goods that use their abundant factors and export goods that use their scarce factors—should not occur because it contradicts the principle of comparative advantage.

Cross hauling is generally considered inefficient and contradictory to the basic tenets of the Hecksher-Ohlin model. When countries engage in cross hauling, they are essentially importing goods that are relatively cheap to produce domestically and exporting goods that should be relatively more expensive. This behavior indicates a deviation from the specialization that the theorem predicts, as it implies a misallocation of resources and a loss of potential gains from trade. Therefore, the Hecksher-Ohlin theorem predicts that cross hauling would be unlikely to persist in a free trade environment where markets function efficiently and factor prices reflect true scarcity.

The predictions of the Hecksher-Ohlin theorem rest on several key assumptions, including identical preferences across countries, perfect competition, and factors of production being mobile within countries but immobile between countries. Under these conditions, the theorem's logic suggests that countries will always tend toward specialization based on factor abundance. Cross hauling, which involves importing and exporting goods that require similar factor inputs, violates the principle of efficiency and assumes market imperfections or distortions, which are outside the scope of the theorem's idealized model. Empirical evidence supports the idea that in most cases, countries tend to specialize according to their factor endowments, and cross hauling remains a rare phenomenon mainly caused by trade policies, transportation costs, or informational asymmetries rather than market fundamentals.

References

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