Many Economists Describe the 2007-2009 Period in the United States

question 191

Multiple Choice

Many economists describe the 2007-2009 period in the United States as being a condition of a(n)

• A)deflationary gap.
• B)recessionary gap.
• C)inflationary gap.
• D)reflationary gap.

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Definitions:

Earnings Announcement Date

The specified day on which a company publicly releases its financial performance results for a given period.

IASB

International Accounting Standards Board; the organization responsible for developing and publishing the International Financial Reporting Standards (IFRS).

FASB

The Financial Accounting Standards Board, an organization responsible for establishing financial accounting and reporting standards in the U.S.

Fair Value Measurement

An accounting standard for measuring the value of assets and liabilities based on the current market price.