Managerial Economics Quiz

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Questions and Answers

What type of budget primarily reflects expenses that change in response to the volume of service?

  • Operating budget (correct)
  • Fixed budget
  • Personnel budget
  • Capital budget

Which managerial level is responsible for coordinating efforts between lower levels and top-level management?

  • Executive managers
  • First-level managers
  • Middle-level managers (correct)
  • Top-level managers

What does the formal structure of an organization primarily provide?

  • A framework for managerial authority (correct)
  • Creative team collaboration
  • Flexibility in decision making
  • Informal networking opportunities

What type of budget is focused on long-term investments such as buildings and major equipment?

<p>Capital budget (D)</p> Signup and view all the answers

What best describes the informal structure within an organization?

<p>A social network facilitating connections among employees (D)</p> Signup and view all the answers

What is the primary purpose of an organizational philosophy?

<p>To guide actions toward the organization's mission (C)</p> Signup and view all the answers

How are objectives different from goals within an organization?

<p>Objectives are similar to goals, but they are explicit and measurable (B)</p> Signup and view all the answers

What characterizes expressed policies in an organization?

<p>They are formally written or verbally communicated (A)</p> Signup and view all the answers

What are procedures in an organizational context?

<p>Sequence of steps for accomplishing a specific task (C)</p> Signup and view all the answers

What is the role of policies within an organization?

<p>To guide decision-making and explain how goals will be met (A)</p> Signup and view all the answers

What should be ensured regarding existing rules within an organization?

<p>They should be enforced to maintain organizational structure (B)</p> Signup and view all the answers

What is an implied policy?

<p>A policy that has been developed over time without formal documentation (C)</p> Signup and view all the answers

What is the relationship between goals and objectives?

<p>Goals are the ends pursued, while objectives are the measurable steps to achieve them (C)</p> Signup and view all the answers

What is the first phase identified by Kurt Lewin in the change process?

<p>Unfreezing (C)</p> Signup and view all the answers

Which of the following activities is NOT part of the Movement stage?

<p>Gather data (C)</p> Signup and view all the answers

What is a key responsibility during the Refreezing stage?

<p>Support others so that the change continues (D)</p> Signup and view all the answers

What is the primary outcome of the Unfreezing phase?

<p>Awareness of the need for change (D)</p> Signup and view all the answers

What does the butterfly effect refer to in terms of change management?

<p>Small changes can lead to significant outcomes (D)</p> Signup and view all the answers

Which of the following is a responsibility of the change agent during the Movement stage?

<p>Use strategies for overcoming resistance (C)</p> Signup and view all the answers

What does accuracy in a budget ensure?

<p>Better planning for resource use (C)</p> Signup and view all the answers

Which step is NOT included in the Movement stage's responsibilities?

<p>Evaluate the change (D)</p> Signup and view all the answers

What is the primary focus of first-level nurses in the organizational hierarchy?

<p>Day-to-day needs at the unit level (C)</p> Signup and view all the answers

Which communication flow is most common for first-level managers?

<p>Both upward and downward communication (C)</p> Signup and view all the answers

What type of planning is primarily associated with top-level managers?

<p>Combination of long- and short-range planning (A)</p> Signup and view all the answers

Which organizational design is commonly referred to as line structure?

<p>Bureaucratic organizational design (B)</p> Signup and view all the answers

What primary responsibility do mid-level managers have in communication?

<p>Transmitting communication to top-level managers (C)</p> Signup and view all the answers

What characterizes a matrix organization structure?

<p>Focus on both product and function (C)</p> Signup and view all the answers

How do top-level managers primarily receive feedback from subordinates?

<p>Through middle-level managers (D)</p> Signup and view all the answers

In the context of organizational structure, ad hoc design is best described as:

<p>A modification for temporary projects (C)</p> Signup and view all the answers

What characteristic defines functional nursing?

<p>It is based on efficiency and fast completion of tasks. (A)</p> Signup and view all the answers

What is the primary responsibility of the primary nurse in primary nursing?

<p>Provide total direct care and plan care from admission to discharge. (B)</p> Signup and view all the answers

In modular nursing, how is patient care organized?

<p>In small, geographically-based teams with at least one RN present. (C)</p> Signup and view all the answers

What defines total patient care delivery?

<p>One nurse assumes complete responsibility for all a patient's needs. (B)</p> Signup and view all the answers

What does team and modular nursing primarily rely on?

<p>Assigning patients based on geographic location. (B)</p> Signup and view all the answers

Which of the following is NOT a traditional patient care delivery method mentioned?

<p>Integrated nursing (B)</p> Signup and view all the answers

What is a key element of team nursing?

<p>Collaboration among registered nurses and ancillary personnel under a nurse leader. (C)</p> Signup and view all the answers

How does the matrix organizational structure aim to improve traditional bureaucratic organizations?

<p>By decentralizing decision-making and flattening hierarchical layers. (A)</p> Signup and view all the answers

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