Suppose You Have Surveyed a Few Industries and Obtained Information

question 194

Multiple Choice

Suppose you have surveyed a few industries and obtained information about the income elasticity of demand for their products.If you expect that the economy is headed for a long recession, you would advise people to look for jobs in an industry with

• A)a high positive income elasticity coefficient such as 5.
• B)a low positive income elasticity coefficient such as 0.8.
• C)a "high" negative income elasticity coefficient such as -4.
• D)a "low" negative income elasticity coefficient such as -0.2.

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Definitions:

Cohesiveness

The degree to which members of a group or team are attracted to each other and motivated to stay in the group, influencing team dynamics and performance.

Norms

Implicit or explicit rules that govern the behavior of members within a group or society, shaping expectations and social conduct.

Process Losses

Refers to the decrease in efficiency or productivity in a team due to coordination and motivation problems.

Productivity Losses

The decrease in the output of goods or services relative to input, often due to inefficiencies, distractions, or other factors that impede performance.