According to the Circular Flow Diagram, the Dollar Value of a Nation's

question 43

Multiple Choice

According to the circular flow diagram, the dollar value of a nation's output is equal to

• A) profits.
• B) total income.
• C) net income minus taxes.
• D) wages.

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Definitions:

Organisational Policy

A set of principles and rules designed to guide decisions and achieve rational outcomes within an organization.

Operating Procedures

Established methods and protocols designed to carry out operations consistently and effectively within an organization.

Employee Manuals

Documentation provided to employees by an employer outlining job duties, workplace policies, and rights and responsibilities of the workforce.

Rules

Indicate what is and what is not acceptable behaviour and often specify the outcome of breaking them.