The Statistic Used by Economists to Measure the Value of Economic

question 5

Multiple Choice

The statistic used by economists to measure the value of economic output is:

• A) the CPI.
• B) GDP.
• C) the GDP deflator.
• D) the unemployment rate.

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Definitions:

HR Function

A strategic and coherent approach to the management of an organization's most valued assets - its people, involving recruitment, staffing, training and development, performance management, and employee relations.

Employment at Will

A legal doctrine indicating that an employer can terminate an employee at any time without cause, and vice versa, except when constrained by contracts or specific laws.

Layoffs

The act of temporarily or permanently removing employees from their positions, usually due to economic downturns, financial struggles, or organizational restructuring.

Performance Measures

Metrics used to assess the effectiveness and efficiency of an individual, organization, or system in achieving its goals.