The three factors of production are; Land, Labor and Capital
<span>A </span>policy<span> is a </span>deliberate system of principles to guide decisions and achieve
rational outcomes. A policy is a statement of intent, and is implemented as a
procedure or protocol. The Board of generally adopts policies or senior
governance body within an
organization whereas procedures or protocols would be developed and adopted by senior
executive officers. Policies can assist in both subjective<span> and </span>objective decision-making.
Policies to assist in subjective decision-making would usually assist senior
management with decisions that must consider the relative merits of a number of
factors before making decisions and as a result are often hard to objectively
test e.g. work-life
balance policy. In contrast
policies to assist in objective decision making are usually operational in
nature and can be objectively tested e.g. password policy
Answer:
D). Policies passed by the Nixon administration helped to stop the rise in the cost of living, which improved the economy.
Explanation:
The last statement most aptly describes the changes that took place in the United States' cost of living across the years 1970-73. President Richard Nixon who joined the office in 1969 passed effective economic policies(Nixon shocks, his budget plan, etc.) that assisted in putting a halt in the 'cost of living.' This reduction in the cost of living helped in reducing the rate of inflation, stabilizing, and improving the condition of the economy. Thus, <u>option D</u> is the correct answer.
