Explain What Is Meant by on the Job Training

question 72

Essay

Explain what is meant by on the job training. Provide some examples of when OJT may be appropriate. What can a trainer do to ensure that OJT is effective?

Learn about the natural rate of unemployment and its determinants.

Comprehend the concept of the Phillips curve in the short run and long run.

Understand how fiscal and monetary policies affect inflation and unemployment.

Analyze the impact of consumer confidence and asset prices on inflation and unemployment.

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Definitions:

Modified Accelerated Cost Recovery System (MACRS)

A tax depreciation system in the United States that allows for the accelerated write-off of property under various classifications.

Federal Income Tax

A tax levied by the federal government on the annual earnings of individuals, corporations, trusts, and other legal entities.

Double-declining Balance

A method of accelerated depreciation where the asset’s book value is decreased at double the rate of traditional straight-line depreciation.

Straight-line Depreciation Rate

The straight-line depreciation rate is a method of calculating the depreciation of an asset, where its cost is evenly spread over its useful life, resulting in a fixed annual depreciation expense.