An Office Setting Could Be an Example of a Departmental

question 6

True/False

An office setting could be an example of a departmental layout that maximizes closenessdesirability.

Analyze historical trends in unemployment and inflation rates.

Understand the relationship between unemployment rates and economic conditions.

Recognize the impact of technological changes and globalization on employment.

Describe the Phillips curve and its implications for economic policy.

---

Definitions:

Equilibrium Price

is the price at which the quantity of goods supplied is equal to the quantity of goods demanded.

Exports and Imports

The totality of goods and services sent out to other countries (exports) and brought into a country (imports) from abroad.

NAFTA

The North American Free Trade Agreement, a treaty between Canada, Mexico, and the United States to reduce trade barriers and promote economic cooperation.

Free-Trade Area

A region where member countries agree to eliminate tariffs and other barriers to trade in goods and services amongst themselves.