1 Which of the following statements about Aggregate Planning is TRUE? 1. The option of varying workforce size by hiring or layoffs is used where the size of the labour pool is small. 2. A disadvantage of subcontracting is that it may require skills or equipment outside the firm's areas of expertise. 3. A pure chase strategy allows lower inventories when compared to a pure level strategy. 4. An advantage of the counter-seasonal product and service mixing option is that it matches seasonal fluctuations without hiring/training costs. 5. All of the above are true