Refer to the Data for a ?Ctional Economy

question 232

Multiple Choice

$$\begin{array} { | c | c | c | } \hline \text { Year } & \begin{array} { c } \text { Actual Budget, Percent of GDP } \\\text { (-deficits, +surpluses) }\end{array} & \begin{array} { c } \text { Cyclically-Adjusted Budget, Percent of GDP } \\\text { (-deficits, +surpluses) }\end{array} \\\hline 1 & 0 & 0 \\\hline 2 & - 3 & 0 \\\hline 3 & - 5 & - 2 \\\hline 4 & - 2 & - 2 \\\hline 5 & + 2 & + 1 \\\hline\end{array}$$ Refer to the data for a ?ctional economy. The changes in the budget conditions between Year 2 and 3 best re?ect

• A) demand-pull in?ation.
• B) an expansionary ?scal policy.
• C) a tax increase.
• D) a contractionary ?scal policy.

Understand the flaws and criticisms of classical management theories, including Taylorism and division of labor concepts.

Comprehend W. Edwards Deming's principles and their application across different organizations.

Recognize the importance of selecting and developing leaders as per Jack Welch's leadership concepts.

Understand Deming's 14 points for a successful workplace and identify methods to improve quality.

---

Definitions:

Unintended Consequences

Outcomes or effects that are not foreseen or intended as a result of a particular action or decision.

Long-term Impacts

The prolonged effects or outcomes of an action, decision, or policy over an extended period.

Information-processing Style

Describes an individual's preferred method of gathering, analyzing, and interpreting information to make decisions.

Logical

Pertaining to the formal principles of reasoning, characterized by clear and consistent thought processes guided by rules of valid inference.