Long-Range Plans

question 52

Multiple Choice

Long-range plans

• A)are different than budgeting in terms of the emphasis and the time period involved.
• B)are used primarily as an evaluation of specific results to be achieved.
• C)reflect management's plans encompassing one year.
• D)have the same amount of detail as the budget.

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Definitions:

Depression

A deep and prolonged business downturn; the last one occurred in the 1930s.

Velocity of Circulation

The rate at which money moves through the economy, from transactions of individuals and businesses.

Unemployment Rate

A measure of the percentage of the labor force that is jobless and actively looking for employment.

Expansionary Monetary Policy

A policy by central banks to increase the money supply and decrease interest rates to stimulate economic growth.