A Business Cycle Refers to the

question 33

Multiple Choice

A business cycle refers to the

• A) continued expansion in Real GDP.
• B) recurrent swings (up and down)in Real GDP.
• C) continued decline in Real GDP.
• D) period when Real GDP grows at unusually high rates.
• E) none of the above

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Definitions:

Nonrelevancy Error

An error made during the employee appraisal process where information irrelevant to job performance influences the evaluation.

First-impression Error

is a bias in evaluation or judgment where early information or initial impressions unduly influence someone's perception of another person or situation.

On-the-job Training

A method of professional development where employees acquire skills and knowledge during the course of their regular work activities, often under the guidance of experienced colleagues.

Vestibule Training

A training method where employees are trained in a separate space (a 'vestibule') using the equipment and tools that they will use in their actual work, but within a simulated work environment.