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Pessimism
Suppose the economy is in long-run equilibrium. Then because of corporate scandal, international tensions, and loss of confidence in policymakers, people become pessimistic regarding the future and retain that level of pessimism for some time.
-Refer to Optimism.In the short run what happens to the price level and real GDP?
Tall Hierarchies
Organizational structures with multiple levels of management and authority, sometimes leading to slower decision-making processes.
Employee Empowerment
Practices that give employees more autonomy, responsibility, and authority over their work, aiming to increase engagement and productivity.
Centralized Structures
Organizational designs where decision-making authority is consolidated at the top levels of management, leading to a hierarchy of control and limited autonomy lower down.
Decentralized
Refers to the distribution of decision-making powers away from a central authority, allowing for greater input and autonomy at the local or divisional levels.
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