During the 1900-1950 Period

question 80

Multiple Choice

During the 1900-1950 period,

• A) the growth of real GDP was more stable than has been the case since 1950.
• B) unemployment seldom exceeded 4 percent of the labor force.
• C) double-digit swings in real GDP during a single year were not uncommon.
• D) the money supply was increased at a constant annual rate of between 4 percent and 6 percent throughout the period.

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Definitions:

Unadjusted Trial Balance

A list of all the balances in a company’s accounts before any adjusting entries are made for reporting purposes.

Management Report

A document that provides managers with information necessary to make decisions, including financial and operational data.

Accounting Period

A specific time span for which financial statements are prepared, commonly a quarter or a year.

Dividends Account

An account used in bookkeeping to track dividends declared by a company to be paid out to its shareholders.