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The Effects Tool _____

question 20

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The Effects tool _____.

Understand the implications of results-based and behaviour-based approaches in performance appraisals.
Grasp the significance of fringe benefits and employee benefits packages in workforce management.
Recognize the impact of appraisal biases and methods to mitigate them in performance management.
Understand the role of merit pay systems and bonus pay in incentivizing employee performance.

Definitions:

Monetary Growth

The increase in the money supply in an economy over time, which can influence inflation rates, interest rates, and economic growth.

Open Market Operations

The buying and selling of government securities by a central bank to control the money supply and interest rates.

Inflation

A sustained increase in the general price level of goods and services in an economy over a period of time, leading to a decrease in the purchasing power of money.

Vault Cash

Physical currency held by banks within their vaults, used to meet customer withdrawals and other cash needs.

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