The Recession of 2008-2009 Demonstrated That ________

question 22

Multiple Choice

The recession of 2008-2009 demonstrated that ________.

• A)consumption is especially sensitive to changes in the retirement age
• B)changes in wealth can be a major source of fluctuations in consumption
• C)as consumers get older,they tend to exhaust all their savings
• D)permanent income is something of a misnomer

---

Definitions:

Functional Lines

Functional lines refer to the various departments or units within an organization, each with specific responsibilities and roles.

Functional Expertise

Refers to the specific knowledge and skills that enable an individual to excel in a particular job or industry.

Economies of Scale

Cost advantages that a business obtains due to expansion, where the average cost per unit of output decreases with the increase in scale of production.

Functional Organizations

A type of organizational structure that groups employees based on their specialized roles or functions.