As Part of the HR Planning Process, the Manager Begins

question 159

Multiple Choice

As part of the HR planning process, the manager begins by assessing the current labor situation at his/her company. Essentially, this means:

• A) preparing job analyses.
• B) preparing job descriptions.
• C) preparing job specifications.
• D) taking an inventory of current employees and their capabilities.

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Definitions:

GDP Deflator

An indicator used to determine the price levels of newly produced domestic final goods and services, assisting in the conversion of nominal GDP to real GDP.

Real GDP

Gross Domestic Product corrected for inflation, giving a truer depiction of the size of an economy and its growth trajectory over time.

Nominal GDP

The gross domestic product calculated at current market prices, without adjusting for inflation.

Transfer Payments

Payments made by the government to individuals or other entities without the government receiving any goods or services in return, such as welfare benefits or social security.