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Suppose that real GDP starts at 200 and grows at a rate of 9 percent per year for two years. In the third year real GDP would be
Resistance Point
In negotiation, the limit beyond which a person or party refuses to go or the minimum outcome they are willing to accept.
Arbitration
A method of dispute resolution where a neutral third party, the arbitrator, makes a binding decision to resolve a conflict.
Process Control
The practice of monitoring and adjusting processes to ensure they meet desired outcomes efficiently and effectively.
Major Concessions
Significant compromises or allowances made during negotiations to reach an agreement.
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