Use the Figure Below to Answer the Following Question

question 62

Multiple Choice

Use the figure below to answer the following question.

Figure 22.3.3
-Refer to Figure 22.3.3. As a result of the rightward shift in the demand curve for labour from LD₀ to LD₁, potential GDP ________, and potential GDP per hour of labour ________.

• A)increases; increases
• B)decreases; increases
• C)increases; decreases
• D)decreases; decreases
• E)increases; does not change

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Definitions:

Bank Reconciliation

The process of ensuring that a company’s bank account balance matches its financial records, identifying discrepancies and making adjustments as necessary.

Internal Controls

Systems and steps a corporation takes to verify the accuracy of financial and accounting reports, encourage responsible behavior, and stop dishonest practices.

Journal

A record where all financial transactions are entered in chronological order, serving as the initial place of recording.

Error Indicating

A term that refers to signals or signs that there are mistakes within a system or process.