In Managerial Decision Making, the State That Exists When Decision

question 59

Multiple Choice

In managerial decision making, the state that exists when decision makers have insufficient information is known as

• A) certainty.
• B) uncertainty.
• C) risk.
• D) probability.
• E) irresolution.

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Definitions:

Labor-Force Participation Rate

The ratio of working-age individuals who are either employed or on the hunt for a job.

Unemployment Rate

The fraction of the labor force that lacks employment but is keenly searching for a position.

Labor Underutilization

A situation where a workforce does not utilize its full potential, often reflected in high unemployment, underemployment, and discouraged workers.

Marginally Attached Workers

Individuals who are not in the labor force, desire and are available for work, and have looked for a job sometime in the past 12 months but not in the four weeks preceding the survey.