Complete Milton Friedman's Famous Statement,"Inflation Is Always and Everywhere a ________

question 16

Multiple Choice

Complete Milton Friedman's famous statement,"Inflation is always and everywhere a ________ phenomenon."

• A)recessionary
• B)discretionary
• C)repressionary
• D)monetary

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Definitions:

Accounting Numbers

Figures that represent the financial performance and position of a company, including income, expenses, assets, and liabilities.

IFRS

Stands for International Financial Reporting Standards, a set of accounting standards developed by the International Accounting Standards Board (IASB) that guide companies in preparing financial statements on a global basis.

U.S.GAAP

United States Generally Accepted Accounting Principles, which are accounting standards used in the U.S. to prepare, present, and report financial statements.

Profitability

A rephrasing of profitability analysis, it refers to a company's ability to generate profit from its operations relative to its costs.