Suppose an Economy Produces Only Eggs and Ham

question 24

Multiple Choice

Suppose an economy produces only eggs and ham.In 2009,100 dozen eggs are sold at $3 per dozen and 50 pounds of ham sold at $4 per pound.In 2010,the base year,eggs sold at $1.50 per dozen and ham sold at $5 per pound.For 2009,

• A)nominal GDP is $400,real GDP is $500,and the GDP deflator is 80.
• B)nominal GDP is $400,real GDP is $500,and the GDP deflator is 125.
• C)nominal GDP is $500,real GDP is $400,and the GDP deflator is 80.
• D)nominal GDP is $500,real GDP is $400,and the GDP deflator is 125.

Comprehend the significance of emotional cutoff and its implications in the family dynamic.

Understand the components and significance of formal hierarchies in organizations.

Recognize various coordinating mechanisms within organizations and their importance.

Identify the consequences of work specialization and division of labor.

---

Definitions:

Contemporary Manager

A managerial role that focuses on modern management practices, embracing change, innovation, and the adaptation to new technologies and market demands.

Planned Change

An intentional, organized effort to alter processes, systems, or structures within an organization, often involving a structured methodology to manage the transition from a current state to a desired future state.

Management by Objectives

A strategic management model that aims to improve the performance of an organization by clearly defining objectives that are agreed upon by both management and employees.