Many Managers Use ___________Or Rules of Thumb to Simplify Their

question 35

Multiple Choice

Many managers use ___________or rules of thumb to simplify their decision making.

• A) biases
• B) heuristics
• C) errors
• D) habits

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Definitions:

Natural Rate of Unemployment

The level of unemployment consistent with sustainable economic growth, where the labor force and job vacancies are in equilibrium.

Monetary Policy

A strategy used by a country's central bank to control the money supply in the economy, often targeting inflation or interest rates to ensure economic stability.

Phillips Curve

An economic theory proposing an inverse relationship between unemployment and inflation, suggesting that lower unemployment comes with higher inflation and vice versa.

Expansionary Monetary Policy

A policy by the central bank to increase the money supply and decrease interest rates to stimulate economic growth.