The abbreviation `SME' stands for ...
Answer(s): C
This is the standard definition, widely used, and given in your textbook.
In which one of the following sectors would you least expect to find seasonal unemployment:
Answer(s): A
Agriculture and tourism are normally associated with high levels of seasonal employment, and hence to some extent, unemployment.Construction also often has an element of seasonality. For example, there is a saying in Alaska: 'there are two seasons - winter and construction', although in some less extreme climates construc-tion carries on year-round.In most situations, we normally expect police employment levels to be relatively consistent through- out the year.
Fiscal policy deals with:
The correct answer simply describes what fiscal policy is. This topic is often mentioned or discussed in serious radio / TV news broadcasts.
Which of the following is likely to reduce 'capital growth'? Select all that apply.
Answer(s): B,C
Payment of high salaries and large allowances, may, fairly obviously reduce the amount of profit which can be retained for capital growth. If money is being distributed in this way, it isn't being re- tained.A profitable company has a choice: to pay dividends to a greater or lesser extent; or retain some of its profits to a greater or lesser extent in the form of retained capital - capital growth. Increased sales and increased profit may result in increased capital growth, all other things being equal, depending on the firm's dividend policy.
`The optimum combination of whole life costs and quality' is one definition of:
Answer(s): D
An earlier widely-used definition of value for money as the right combination of price and quality has been updated to include the notion of whole-life costing.The other answers shown are simply 'red herrings'.
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