Which of the Following Is True of an Effective Vision

question 98

Multiple Choice

Which of the following is true of an effective vision statement?

• A)It clearly describes an organization as it currently operates.
• B)It inspires the members of an organization.
• C)It is an estimation of the profits of an organization.
• D)It clarifies the short-term direction of a company.
• E)It is a statement strictly based on financial targets.

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Definitions:

Favorable Supply Shock

An unexpected event that increases the supply of a good or service, leading to a lower equilibrium price.

Short-run Phillips Curve

A graphical representation showing an inverse relationship between the rate of unemployment and the rate of inflation in the short-term.

Unemployment

The situation in which people who are willing and able to work are not able to find employment, often expressed as a percentage of the labor force.

Aggregate-supply Curve

A graph that shows the relationship between the overall price level and the total output produced by firms in an economy.