Related to the Economics in Practice on P

question 149

Multiple Choice

Related to the Economics in Practice on p. 125: Survey data suggests that during the recession of 2008-2009, the hours that those who were unemployed lost to the formal market were primarily spent on

• A) job search.
• B) increased education.
• C) leisure activities.
• D) non-market work.

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Definitions:

Coordination

The organization of different elements of a complex body or activity so as to enable them to work together effectively.

Complacency Trap

A situation where a person or organization becomes overly content with their achievements and stops striving for improvement or growth.

Rigidity

The quality of being unable to bend or be forced out of shape; applied to organizations, it often refers to the inflexibility in rules, procedures, and management.

Flexibility

The capacity to adapt to new, different, or changing requirements and conditions.