Other Things the Same,an Increase in the Price Level Causes

question 6

Multiple Choice

Other things the same,an increase in the price level causes the interest rate to

• A)increase,the dollar to depreciate,and net exports to increase.
• B)increase,the dollar to appreciate,and net exports to decrease.
• C)decrease,the dollar to depreciate,and net exports to increase.
• D)decrease,the dollar to appreciate,and net exports to decrease.

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Definitions:

Ledger Accounts

Individual financial records within the general ledger, detailing transactions related to a specific account category.

Income Summary

An account in the accounting ledger that is used to summarize the revenues and expenses for a period, facilitating the transfer of net income or loss to retained earnings.

Closing Entries

Journal entries made at the end of an accounting period to transfer the balances in temporary accounts to permanent accounts, thereby preparing the company's books for the next period.

Net Income

The net income of a business once all costs, taxes, and deductions are taken from the overall revenue.