The Two Negative Demand Shocks That Caused the Great Recession

question 74

Multiple Choice

The two negative demand shocks that caused the Great Recession were:

• A)declining housing prices and the 2008 financial panic.
• B)declining housing prices and declining stock prices.
• C)increasing oil prices and the 2008 financial panic.
• D)increasing oil prices and declining stock prices.

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Definitions:

Rating Error

A mistake or bias that occurs when evaluating an individual, typically in performance appraisals, leading to inaccurate or unfair assessments.

Calibration Meetings

Sessions in which managers or HR professionals discuss and align on performance standards, ratings, and development needs for employees to ensure consistency and fairness.

Performance Appraisal

The evaluation process by which an employee's job performance is assessed and documented by a manager or supervisor.

Calibration Meeting

Meeting at which managers discuss employee performance ratings and provide evidence supporting their ratings with the goal of eliminating the influence of rating errors.