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Everything else held constant,a monetary contraction is characterized by ________ output and ________ interest rates.
Encumbrance System
A system used in accounting to reserve portions of appropriated funds to avoid overspending, primarily used by governments.
Estimated Commitments
Obligations or contracts that a company is likely to incur in the future based on past or planned activities.
Journal Entry
A record in accounting that represents the recording of a financial transaction in a journal.
Restricted Funds
Funds that are constrained by external parties or legislation for specific purposes and cannot be freely used for any other expenditures.
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