Recurring Entries May Be -

question 28

Multiple Choice

Recurring entries may be -

• A)recalled from daily business manager lists and removed at that point
• B)recalled from daily business manager lists for purchases and sales
• C)recalled from daily business manager lists and posted in the appropriate journal
• D)listed in the daily business manager to provide a summary for checking on upcoming transactions

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Definitions:

Phillips Curve

A concept in economics that demonstrates an inverse relationship between the rate of unemployment and the rate of inflation.

Shift

In economics, a change in the position of a demand or supply curve which reflects a change in conditions other than price.

Adverse Supply Shock

A sudden and significant decrease in the supply of a good or service, which typically leads to an increase in prices and can temporarily boost inflation.

Short-run Phillips Curve

A graphical representation showing the inverse relationship between the level of unemployment and the rate of inflation in an economy over the short-term.