The Act of Choosing Among Alternatives with an Immediate or Limited

question 130

Multiple Choice

The act of choosing among alternatives with an immediate or limited end in view is termed

• A)assessing feasible alternative.
• B)strategic decision making.
• C)constructing a decision model.
• D)short-run decision making.
• E)none of these.

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Definitions:

Anti-inflation

Measures and policies implemented to reduce or control the rate of inflation in an economy.

Cold Turkey

The announcement and execution of tough measures to reduce high inflation.

Time-inconsistency

Time-inconsistency refers to the tendency of individuals or governments to change their plans about what they believe will be the best course of action in the future, often leading to inconsistencies in policy or personal decision-making.

Inflation Target

Commitment of central bankers to keep inflation below a certain rate for the next year or two.