Which of the following statements about recessions is true? a. an old rule of thumb defining recession is two consecutive quarters of falling nominal gdp. b. recessions occur at regular intervals and last standard amounts of time. c. there is no ironclad rule for the declaration of recessions. d. recessions are associated with low unemployment and high income.

You work as the sales manager for a company that sells office supplies to businesses of all sizes. because the profit margins are razor-thin, you need to ensure that you are getting the very best prices on paper, pencils, pens, post-it notes, and other office supplies from the manufacturers. when reviewing the quarterly profit statement, you realize that your costs are higher than they should be, and you trace the higher costs back to an employee who has been lax about getting competitive bids to ensure the lowest prices. when you conduct your research to determine the reason for the higher costs, and take action to bring those costs back down, in which of the key management processes are you taking part?