A Look Back (Scenario)

question 58

Multiple Choice

A Look Back (Scenario)
Nadia, tired from working with customers all day, decided to take a 15- minute nap. She needed to clear her head before the 4
P.M. managers meeting. Her company had recently begun a re engineering process. They were going through many changes that required extensive management input. As she leaned back in her chair, Nadia wondered if management processes had always been this way. She fell asleep and dreamed that she was travelling in a time machine with "Mr. Management" as her guide. Mr. Management took Nadia back through management history.
-Nadia visited a bookstore that was holding a book signing. She saw that the title of the book was Principles of Scientific Management, which had just been published. Nadia concluded that the time period must be _________.

• A) mid 1900s
• B) late 1800s
• C) early 1800s
• D) early 1900s

---

Definitions:

Self-correct

The ability of an economic market to adjust and return to equilibrium without external intervention.

Aggregate Demand Curve

Represents the total spending on domestic goods and services at various price levels, showing the inverse relationship between price level and demand.

Short-run Aggregate Supply

Represents the total amount of goods and services that producers are willing and able to supply at different price levels in the short-term, considering some prices are sticky.

Passive Policy

A government or regulatory approach that involves minimal intervention in the economic affairs of individuals and businesses.