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Give an example of an automatic stabilizer.Explain how automatic stabilizers work in the case of recession.
Joint Decisions
Decisions made collaboratively by two or more parties where the outcomes affect everyone involved, aiming for consensus or compromise.
Labor-Management Involvement
The process where both labor (employees or their unions) and management actively participate in addressing and resolving workplace issues together.
Quality Circles
Small groups of employees who voluntarily come together to identify, analyze, and solve work-related problems, aiming to improve the quality of their output.
Continuous Improvement
An ongoing effort to improve products, services, or processes by making small, incremental changes over time.
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