Which of the Following Would Be Considered an Example of an Element

question 151

Multiple Choice

Which of the following would be considered an example of an element of an informal control system?

• A) procedures developed by first level managers to help guide staff in their daily work
• B) a policy that requires all employees to take at least two weeks of vacation each year
• C) Shared values within an organization's culture
• D) the master budget

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Definitions:

Money Market Equilibrium

The state where the supply of and the demand for money balances, resulting in economic stability at a given interest rate.

Interest Rate

The amount charged by lenders to borrowers for the use of assets, expressed as a percentage of the principal, or the amount earned by an investment.

Quantity of Money

The total amount of money in circulation or in existence in a country or the economy at a specific time.

Recessionary Gap

The difference between the real GDP and the potential GDP of an economy, indicating a situation where resources are underutilized.