Which of the Following Is a Short-Term Strategy Aimed at Cutting

question 82

Multiple Choice

Which of the following is a short-term strategy aimed at cutting the number of employees through programs such as attrition and early retirement?

• A)work redesign
• B)workforce reduction
• C)systematic change
• D)downsizing

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Definitions:

Labor Supply Curve

A visual diagram that illustrates the connection between the amount of wages and the volume of labor that employees are prepared to offer.

Income Effect

Change in consumption of a good resulting from an increase in purchasing power, with relative prices held constant.

Substitution Effect

Change in consumption of a good associated with a change in its price, with the level of utility held constant.

Perfectly Competitive

A market structure characterized by a large number of small sellers and buyers, homogeneous products, and freedom of entry and exit.