Though Not Formally Written, an Organization Allows Its Employees to Dress

question 35

Multiple Choice

Though not formally written, an organization allows its employees to dress casually on Fridays. This is a(n) _____ of the organization.

• A) policy
• B) rule
• C) standard operating procedure
• D) standing plan
• E) ethical code

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Definitions:

Laspeyres Price Index

A measure of the change in the aggregate price level of a basket of goods and services over time, using the quantities purchased in the base year.

Paasche Price Index

The Paasche Price Index measures the change in the price level of a basket of goods and services between two periods, using the quantities of the current period.

Strong Axiom

A principle or rule with robust implications or requirements, though more context is needed for a specific field application.

Revealed Preference

An economic concept referring to the idea that consumers' choices, reflected in their purchasing decisions, reveal their preferences for certain goods or services over others.