Describe the communication process. What are the key elements?
What will be an ideal response?
Communication has been defined as the process by which the sender–a person, group, or organization–transmits some type of information (the message) to another person, group, or organization (the receiver). The first step in the communication process is that the sender must encode the idea or information–translate it into a form such as writing, language, or nonverbal communication. Once a message has been encoded, the sender must select a communications channel through which a message is transmitted or sent to the recipients. Once information is transmitted to a recipient, the recipient must decode the message, or conceptually translate the information into meaningful knowledge.
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There is an exchange rate between
a. every pair of currencies. b. the world's major currencies but not between the currencies of less-developed countries. c. currencies on a fixed-exchange rate system but not for those on a floating-rate system. d. the currencies of the European Union but not for the nations outside the European Union.
Figure 10-3
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In Figure 10-3, we would expect the aggregate supply curve in graph (b) to eventually
A. shift to the right, eliminating the recessionary gap. B. shift to the left, eliminating the inflationary gap. C. become steeper in the upper portion, eliminating the inflationary gap. D. become flatter in the upper portion, eliminating the recessionary gap.