Which of the Following Statements Is Correct

question 5

Multiple Choice

Which of the following statements is correct?

• A) If you can buy the same goods this year as you bought last year with less money there must have been inflation.
• B) If purchasing the same goods today that were purchased one year ago requires more money, there must have been deflation.
• C) If purchasing the same goods today as one year ago requires less money, the money supply likely decreased.
• D) If purchasing the same goods today as one year ago requires less money, the money supply likely increased.

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Definitions:

Mass Services

Services provided on a large scale to a broad population where individual customer interactions are relatively uniform and low in complexity.

Process Costing

A costing method used in industries where production is continuous, assigning costs to units of output on the basis of average costs for each process or department.

Labour

Labour refers to human work effort, both physical and mental, used in the production of goods and services.

Back Office

The back office consists of the administrative and support personnel in a company who are not client-facing, responsible for functions such as settlements, clearances, record maintenance, and IT services.