Organizations May Engage in Analyzing and Identifying the Need for and Availability

question 121

Multiple Choice

Organizations may engage in analyzing and identifying the need for and availability of human resources. The purpose of doing this is to enable them to meet their objectives. Which of the following terms names this process?

• A)human resources planning
• B)strategic planning
• C)labour market analysis
• D)environmental scanning

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Definitions:

Expansionary Gap

A situation in an economy where total spending exceeds the production capacity, leading to inflationary pressures and a rise in output.

Effectiveness Lag

The time needed for changes in monetary or fiscal policy to affect the economy

Decision-making Lag

The delay between the identification of a need for a policy response and the implementation of the decision.

Recognition Lag

The time needed to identify a macroeconomic problem and assess its seriousness.