Marty Uses Computer Forecasts to Determine Possible Outcomes of an Intended

question 73

Multiple Choice

Marty uses computer forecasts to determine possible outcomes of an intended change in his division.What element of management is Marty utilizing?

• A) strategy formulation
• B) goal setting
• C) crisis management
• D) contingency planning
• E) related diversification

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Definitions:

Nominal GDP

The market value of all finished goods and services produced within a country in a year, measured using current prices without adjusting for inflation.

Real GDP

The total value of all goods and services produced across a nation within a specific year, adjusted for inflation, reflecting the economy's actual growth.

Consumer Price Index

A measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food, and medical care, indicating the level of inflation.

Market Basket

A collection of goods and services used to monitor price changes for consumer expenditures, often used in calculating inflation indices.