The Probability of Making an Accurate Selection Decision Is Higher

question 44

Multiple Choice

The probability of making an accurate selection decision is higher when

• A)the number of applicants is large.
• B)decision makers have a greater amount of accurate data.
• C)the applicant pool is diverse.
• D)hiring for an initial position.

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Definitions:

Price Leadership

A form of oligopoly in which one dominant firm sets prices and all the smaller firms in the industry follow its pricing policy.

OPEC Cartel

An organization of oil-producing countries that coordinates and unifies petroleum policies to secure fair and stable prices for petroleum producers.

Predatory Pricing

A competitive strategy where a firm sets very low prices with the intention of driving competitors out of the market, or to prevent new entries.

Antitrust Laws

Regulations designed to promote competition and prevent monopolies by limiting the power of large corporations.