A Situation Where Policymakers Have the Incentive to Deviate from Their

question 36

Multiple Choice

A situation where policymakers have the incentive to deviate from their initial course of action once other agents in the economy have acted is called a(n) :

• A) rational expectation.
• B) outside lag.
• C) time-inconsistent policy.
• D) active policy rule.

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Definitions:

Training Needs

The gap between current capabilities of employees and the skills required to perform their job effectively, guiding the development of training programs.

Detailed

Describes information or work that is done with thoroughness and precision.

Job Families

Groups of occupations within an organization based upon work performed, skills, education, training, and credentials.

Knowledge, Skills

Pertains to the competencies and expertise that individuals possess, which enable them to perform tasks effectively.