Potential GDP Is Also Referred to as

question 41

Multiple Choice

Potential GDP is also referred to as

• A) realised GDP.
• B) full-employment GDP.
• C) unemployment GDP.
• D) balanced-budget GDP.

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Definitions:

Centralization

The process or organizational structure where decision-making authority is concentrated at the top levels of management.

Discretion

The power or right to make decisions based on one's own judgment rather than following a strict set of rules.

Functional Departmentation

The organization of a business into departments based on functions such as marketing, sales, and human resources, to enhance efficiency and specialization.

Organizational Hierarchy

Organizational hierarchy is a system in which roles and responsibilities are ranked in order from highest to lowest, determining the flow of decision-making and authority.