Because Inflation Was Not a Serious Problem During the Great

question 20

Multiple Choice

Because inflation was not a serious problem during the Great Depression,Keynes's analysis assumed

• A)that unemployment also was not a problem.
• B)that the money supply was fixed.
• C)that the price level was fixed.
• D)that monetary policy is not effective.

---

Definitions:

Control Account

An account used in accounting to summarize the total balances of multiple individual accounts, facilitating internal checks and balances.

Special Journals

Customized accounting journals used for recording and categorizing specific types of transactions such as sales, purchases, and cash receipts in an efficient manner.

General Journal

A fundamental accounting record where all transactions are initially documented through journal entries in chronological order.