_____ Is the Approach That Defines How a Decision Maker

question 156

Multiple Choice

_____ is the approach that defines how a decision maker should make decisions. The approach also provides guidelines for reaching an optimal outcome for the organization.

• A) Administrative
• B) Descriptive
• C) Normative
• D) Bounded rationality
• E) None of these

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Definitions:

GDP

Gross Domestic Product, a measure of the economic performance of a country, calculated by adding the total value of all goods and services produced within its borders.

National Debt

The sum total of finances that a nation's government has amassed in debt via various avenues.

Deficit

An economic condition where expenditures exceed revenue, common in government budgets.

Surplus

A situation where the quantity supplied of a good or service exceeds the quantity demanded at the current price.