QUESTION 1

1. Describe the three core principles of total quality

2. Identify and describe three challenges that firm's face in the future regarding quality

3. Classify three human resource practices that can impede customer service employees from delivering high quality service. Explain how you would modify each practice to promote high quality service

4. Identify as well as discuss five differences between service and manufacturing organizations

5. Describe the reasons why a firm would seek ISO 9000 registration

QUESTION 2

1 Assume nominal GDP in 2005 was $11 trillion as well as in 2006 it was $13 trillion. The all-purpose price index in 2005 was 100 and in 2006 it was 104. Between 2005 and 2006 real GDP rose by what percent?

2 The consumer price index was 185.2 in January of 2004 as well as it was 190.7 in January of 2005. So the rate of inflation in 2004 was about ______.

3 As the Euro rises in value relative to the U.S. dollar what happens to the price of U.S. goods in Europe? What occurs to the price of European goods in the U.S.? Why would a country (for instance, China) choose to keep their currency comparatively pegged to the U.S. dollar? If the U.S. dollar were to escalate considerably against most currencies what would be the effect on Chinese exports to countries other than the United States?

4 Assume the Canadian dollar (C$) price of one British pound is C$2.12. A hotel room in London charges 120 pounds, while an alike hotel room in Toronto costs C$250. In which town is the hotel room cheaper and by how much?

5 Answer the subsequent question on the basis of the following production likelihoods data for Egypt and Greece-
Egypt production possibilities-

A B C D E

Shirts 0 50 100 150 200

Pants 1600 1200 800 400 0

Greece production possibilities-

A B C D E

Shirts 120 90 60 30 0

Pants 0 90 180 270 360

Discuss to the above data. What would be practicable terms of trade between Egypt and Greece?

6 The Republic of Republic produces two goods and services fish (F) and chips (C). In 2006 the 200 units of F produced sold for $3 per unit as well as the 500 units of C produced sold for $1 per unit. In 2007 the 300 units of F produced sold for $4 per unit and the 600 units of C produced sold for $2 per unit. Compute Real GDP for 2007 assuming that 2006 is the base year.

7 Country A produces 2 goods elephants as well as saddles. In the year 2006 the 30 pieces of elephants produced sold for $3,000 per unit in addition the 50 units of saddles produced sold for $300 per unit. In 2007 the 40 units of elephants produced sold for $4000 per unit as well as the 60 units of saddles produced sold for $250 per unit. Real GDP for 2007 presumptuous that 2006 is the base year, is ______.

8 A Honda Accord sells for $28,000 in the United States as well as for SF35,520 in Switzerland. Assumed an exchange rate of SF1.25 = $1 how do the car rates of both countries compare?