Analyzing Relationships Between Vendors and A/P Clerks to Find Potentially

question 45

Multiple Choice

Analyzing relationships between vendors and A/P clerks to find potentially fraudulent relationships is an example of what type of diagnostic analytics?

• A) Identifying anomalies and outliers
• B) Finding previously unknown linkages, patterns, or relationships between variables
• C) Performing marginal analysis
• D) Performing descriptive analytics

Explain the impact of private information on economic efficiency and the role of risk in economic decision-making.

Apply the concept of expected value to calculate health costs and insurance premiums.

Understand the behavior of risk-averse individuals and their strategies to manage risk.

Analyze the effects of diversification and the pooling of risk on reducing economic uncertainty.

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Definitions:

Taft-Hartley Act

A federal law enacted in 1947 that restricts the activities and power of labor unions, also known as the Labor Management Relations Act.

Wagner Act

Also known as the National Labor Relations Act of 1935, it is a foundational statute of United States labor law which guarantees basic rights of private sector employees to organize into trade unions, engage in collective bargaining, and take collective action such as strikes.

Right-To-Work Laws

State laws that prohibit labor-management agreements requiring union membership as a condition of getting or keeping a job.

Constructive Discharge

Discriminatory action whereby an employee is demoted to a job with less pay, authority, or poorer working conditions than the job that person previously held or is subjected to supervisory harassment.