The Absolute Value of the Slope of the Production Possibilities

question 57

Multiple Choice

The absolute value of the slope of the production possibilities curve at any point:

• A) gives the price of the good on the vertical axis that must be given up to attain an additional unit of the good on the horizontal axis.
• B) is found by dividing the horizontal change by a vertical change.
• C) gives the quantity of the good on the vertical axis that must be given up to produce an additional unit of the good on the horizontal axis.
• D) gives the price of the good on the horizontal axis relative to the price of the good on the vertical axis.

Comprehend different approaches to costing a training program, including how to group costs and identify specific cost examples.

Gain insights on enhancing the credibility of estimating the benefits of training programs and understanding why cost-effectiveness calculations are considered both art and science.

Differentiate between cost-effectiveness evaluation and cost-benefit evaluation in the context of training programs.

Recognize the importance for trainers and HR professionals to calculate and demonstrate the financial results of training and development investments.

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Definitions:

Forced Retirement

The situation in which an employee is compelled to retire against their wishes, often due to company policies or economic pressures.

Executive Branch

The part of the government responsible for implementing, enforcing, and administering the laws and policies of a state or nation.

Human Resource Management

A strategic approach to managing a company's employees, focusing on policies and systems to improve workforce performance and satisfaction.