Estimations Calculated Using the Rule of 70

question 71

Multiple Choice

Estimations calculated using the rule of 70:

• A) make it easier to appreciate how small differences in growth rates can add up to huge differences in income over time.
• B) make it easier to appreciate how big differences in growth rates are needed to create any real difference in income over time.
• C) are simple to use, but make it difficult to see the relationship between growth rate and income over time.
• D) are simple to use, but give estimates that have been proven wrong in recent decades.

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Definitions:

Trait-Based

An approach focusing on specific, identifiable qualities or characteristics that can predict behavior and performance.

Focal-Point Review

A performance appraisal method focusing on critical accountability and major achievements over a specified period, rather than routine duties.

Productivity Cycles

Periodic fluctuations in productivity levels within an organization or economy, influenced by various factors including market demands and workforce morale.

Appraising Performance

The process of evaluating an employee's job performance and productivity in accordance with previously set objectives.