Fact Pattern 31-1 Outlook Inc

question 47

Multiple Choice

Fact Pattern 31-1 Outlook Inc. merges with Pinnacle Inc. Only Pinnacle remains.
Refer to Fact Pattern 31-1. The articles of merger

• A) amend the articles of Pinnacle.
• B) disappear once the merger is complete.
• C) create an entirely new organization.
• D) take the place of the articles of Pinnacle.

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Definitions:

Equilibrium GDP

The level of Gross Domestic Product at which the total quantity of goods and services produced equals the total quantity of goods and services purchased.

Deflationary Gap

A condition in which aggregate demand is lower than the aggregate supply potentially leading to deflation.

Full Employment GDP

The total value of all goods and services produced when the economy is operating at full employment, with no cyclical unemployment.

Federal Budget Deficit

The financial situation that occurs when a government spends more money than it receives in revenue, typically measured over a fiscal year.