The Organisation for Economic Co-Operation and Development (OECD) Summary Forecast

question 29

Multiple Choice

The Organisation for Economic Co-operation and Development (OECD) summary forecast for Greece reads 'The economy is suffering a serious recession in the context of the sizeable, but vital, fiscal retrenchment.' This means that:

• A) the Greek government needs to reduce its spending or increase its taxes for the economy to recover.
• B) the Greek economy is recovering through increases in the demand for exports.
• C) the level of household consumption as a percentage of total expenditure in Greece is likely to be high.
• D) new job formation and employment in Greece is likely to be high.

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Definitions:

Day-To-Day Operations

Activities and tasks that a business or organization performs regularly to ensure its continued functioning and success.

SWOT Exercise

A strategic planning tool used to identify and analyze the Strengths, Weaknesses, Opportunities, and Threats related to a project, organization, or business.

Strengths

The natural talents and abilities that individuals possess which empower them to perform effectively in certain areas.

Weaknesses

Characteristics or conditions that put an individual or organization at a disadvantage relative to others, potentially hindering success or performance.