-Suppose That Initially There Is No Public Debt

question 14

Multiple Choice

-Suppose that initially there is no public debt. Using the above table, what is the public debt as a percentage of GDP in 2014?

• A) 0.5 percent
• B) 2.0 percent
• C) 3.6 percent
• D) 8.0 percent

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Definitions:

Unity of Command

A principle in management and military that states an individual should receive orders from only one superior.

Henri Fayol

A French engineer and theorist, known for his development of general theories in business administration and management.

Management Order

A directive issued by managers in an organization to guide or control the actions of teams or individuals toward achieving business objectives.

Bureaucracy

An organizational structure characterized by standardized procedures, hierarchical divisions, and a clear set of rules and regulations governing operations and decision-making.