Groups of a Small Number of People from Different Departments

question 125

Multiple Choice

Groups of a small number of people from different departments in an organization who are mutually accountable to accomplish a task or a common set of performance goals are

• A) designated teams.
• B) strategic business units.
• C) cross-functional teams.
• D) business committees.
• E) venture squads.

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Definitions:

Net Exports

The difference between a country's total value of exports and its total value of imports, indicating whether it has a trade surplus or deficit.

Purchasing-power Parity

A theory in economics that states that exchange rates between currencies are in equilibrium when their purchasing power is the same in each of the two countries.

Nominal Exchange Rate

The rate at which one currency can be exchanged for another without adjusting for inflation.

Prices

The amount of money required to purchase a good or service.