An Example of the External Labor Market Is the Situation

question 6

Multiple Choice

An example of the external labor market is the situation where:

• A) an assessment center operated by an external consulting firm evaluates company managers for promotion potential.
• B) a new vice president of marketing is hired from a competitor.
• C) the senior vice president of finance is promoted to CEO.
• D) a vice president of human resources is sent to a university executive MBA program for professional development.

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Definitions:

Protective Tariff

A tax imposed on imported goods to protect domestic industries from foreign competition.

Cordell Hull

An American politician who served as the longest-serving U.S. Secretary of State, playing a key role in establishing the United Nations and laying the groundwork for international trade agreements.

Deficit Spending

The practice of a government spending more money than it receives in revenue, often to stimulate economic growth.

1937−1939 Recession

A period of economic downturn in the United States which occurred within the Great Depression era, characterized by a significant decline in industrial production and employment rates.