When an Organization Invites Input from a Wide Variety of External

question 235

Multiple Choice

When an organization invites input from a wide variety of external sources for innovative ideas,what is this called?

• A)modern innovation
• B)external innovation
• C)broadcast innovation
• D)new innovation
• E)open innovation

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Definitions:

Rational Expectations

The hypothesis that individuals form forecasts about the future based on all available information in a way that is consistent with the actual structure of the economy.

Active Stabilization Policy

Economic policies aimed at minimizing business cycle fluctuations through fiscal and monetary interventions by the government.

Money Supply

The total amount of money available in an economy at a particular time, including cash, coins, and balances held in checking and savings accounts.

Expected Price Level

This term represents the anticipated average price of goods and services in an economy over a certain period.