Refer to the Following Figure to Answer the Following Questions

question 15

Multiple Choice

Refer to the following figure to answer the following questions:
-As presented in the figure,one could correctly state that during the period shown

• A) the United States and the European Union generally experienced periods of both inflation and deflation.
• B) generally,the United States experienced deflation,but the European Union experienced inflation.
• C) generally,the European Union experienced more deflation than the United States did.
• D) there was never a time when either the United States or the European Union experienced deflation.
• E) there were brief periods of hyperinflation for both the United States and European Union in the 1970s and early 1980s.

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Definitions:

Maker's Obligation

The responsibility of the creator of a negotiable instrument to pay the specified amount to the holder of the instrument upon its presentation.

Draft

Any instrument (such as a check) drawn on a drawee (such as a bank) that orders the drawee to pay a certain sum of money, usually to a third party (the payee), on demand or at a definite future time.

Drawee

The party that is ordered to pay a draft or check. With a check, a financial institution is always the drawee.

Payee

The individual or entity to whom a payment is to be made or has been made, typically in the context of financial transactions.