Economic Models

question 181

Multiple Choice

Economic models

• A)are constructed to mirror reality as closely as possible,and in this respect economic models are no different from other scientific models.
• B)are constructed to mirror reality as closely as possible,and in this respect economic models are very different from other scientific models.
• C)are simplifications of reality,and in this respect economic models are no different from other scientific models.
• D)are simplifications of reality,and in this respect economic models are very different from other scientific models.

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Definitions:

Human Resource Planning

A strategic approach to ensure the right number of people with the right skills are in place to meet an organization's current and future goals.

Internal Sources

Refers to using an organization's existing staff or resources to fill a position or complete a task, as opposed to looking externally.

Recruitment

The process of identifying, attracting, interviewing, selecting, hiring, and onboarding employees to an organization.

Early Retirement Programs

Plans offered by employers that incentivize employees to voluntarily retire before the typical retirement age, often including financial benefits.