Which of the Following Is FALSE

question 1

Multiple Choice

Which of the following is FALSE?

• A)in 1929, the U.S. unemployment rate averaged 3.2 percent
• B)in 1933, the U.S. unemployment rate hit an all-time high of 20.1 percent
• C)from 1930 to 1939 the U.S. experienced unemployment rates in the double digits, despite massive government intervention
• D)both the Keynesian and the monetarists explanations of the Great Depression fit the facts
• E)macroeconomics developed as a distinct discipline as a result of what happened during the Great Depression

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Definitions:

Accounting Methods

The rules and guidelines used by businesses to keep financial records and prepare financial statements, including accrual and cash basis accounting.

Comparable Data

Data that is similar in nature and allows for comparison between different data sets or time periods.

Reporting Unusual Items

The practice of separately reporting significant financial transactions or events that are not typical of the business's regular operations, to provide clarity in financial statements.

Income Statement

A financial report that summarizes a company's revenues, expenses, and profits/losses over a specific period of time.