Discussing Ethical Implications of a Decision with Subordinates Can Help

question 34

Multiple Choice

Discussing ethical implications of a decision with subordinates can help a supervisor:

• A) confront them with evidence in case the decision has inadequate effects.
• B) disperse responsibility for decisions which can result in negative consequences.
• C) see consequences and options that he or she might not have thought of alone.
• D) decide which employee is good at decision making.

Recognize the concept of comparative and absolute advantages in international trade.

Distinguish between mercantilism and neo-mercantilism and their effects on trade policies.

Understand the role of factor endowments in shaping the trade patterns of countries.

Assess the impacts of trade policies such as tariffs, quotas, and subsidies on international trade.

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Definitions:

Unemployment Rate

The share of the employment pool that is currently without work yet is actively trying to find a job.

Inflation Rate

The percentage rate at which the general level of prices for goods and services is rising, eroding purchasing power.

Unemployment Rate

The percentage of the labor force that is jobless and actively seeking employment, a key indicator of the economy's health.

Rational Expectations Theory

An economic theory suggesting that individuals form forecasts about the future based on all available information and past experiences, thereby influencing and typically accurately predicting future economic events.