In 1980,the Combination of Inflation and Unemployment the U

question 47

Multiple Choice

In 1980,the combination of inflation and unemployment the U.S.was experiencing

• A)resulted from a leftward shift of the short-run Phillips curve.
• B)was consistent with feasible inflation-unemployment combinations provided by the Phillips curve of the 1960s.
• C)followed two supply shocks that were triggered by the Organization of Petroleum Exporting Countries.
• D)All of the above are correct.

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Definitions:

Checks Written

Documents ordering a bank to pay a specific amount from the check writer's account to the person in whose name the check has been issued.

Bank Reconciliation

The process of matching and comparing figures from the accounting records against those presented on a bank statement to ensure accuracy and consistency.

Outstanding Checks

Checks that have been written and recorded in the paying entity's cash records but have not yet cleared the bank account.

NSF Check

A check that cannot be processed because the account on which it was drawn lacks sufficient funds, standing for Non-Sufficient Funds.