If an Economy Can Increase Its Steady Annual Growth Rate

question 34

Multiple Choice

If an economy can increase its steady annual growth rate from 1 percent to 1.5 percent,this reduces the time it takes for the economy to double in size by approximately __________ years.

• A) 5
• B) 8
• C) 33
• D) 17
• E) 23

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Definitions:

Self-Directed Teams

Groups of employees who are given autonomy to manage their work and make decisions without direct supervision.

Tall Hierarchy

An organizational structure characterized by many levels of management and supervision, resulting in a long chain of command.

Team-Based Structure

An organizational framework that emphasizes teamwork and collaboration, often organizing employees into project teams or groups rather than traditional hierarchical departments.

Flat Hierarchy

An organizational structure with few or no levels of middle management between staff and executives, which can encourage more open communication and quicker decision-making.