The Decision-Making Pitfall That Favors Programmed Solutions Based on What

question 32

Multiple Choice

The decision-making pitfall that favors programmed solutions based on what worked in the past, even though that may no longer be relevant, reflects

• A) overlooking important constituencies.
• B) a bias toward objective data.
• C) the "if it isn't broke, don't fix it" syndrome.
• D) premature evaluation.

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Definitions:

Fiscal Policy

Refers to the use of government spending and taxation policies to influence the economy.

Economic Growth

An increase in the production of goods and services in an economy over a period of time, often measured as a percentage increase in real gross domestic product (GDP).

Monetary Policy

The management of a country's money supply and interest rates by its central bank to control inflation and stabilize the currency.

Amount Of Money

The total sum or figure represented in currency units, indicating the value or cost of an item, service, or financial obligation.