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All-Best Milling Is a Small Machine Shop That Makes Custom

question 63

Multiple Choice

All-Best Milling is a small machine shop that makes custom parts for manufacturers in the metropolitan area where it is located.For 20 years,Monica was the office assistant.She was hired to fill a position that involved keeping track of customers' orders and purchasing supplies.After Monica retired,the company hired another office assistant to perform the same tasks.Soon afterward,however,the company's owner began hearing from frustrated customers complaining that when they called the company with questions and problems,no one was taking responsibility and helping them as Monica had.What problem with job analysis is most likely to have occurred when Monica retired?

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Definitions:

Legal Reserves

Reserves that depository institutions are allowed by law to claim as reserves; vault cash and deposits held at Federal Reserve district banks.

Excess Reserves

Excess Reserves are the reserves that banks hold over and above the legal or required minimum they need to keep against deposits.

Open Market Purchase

A monetary policy operation where a central bank buys government securities from the market in order to inject liquidity and encourage lending and investment.

Required Reserve Ratios

Regulatory requirements determining the minimum fraction of customer deposits that commercial banks must hold as reserves, rather than loan out.