Which of the Following Have to Be in Equilibrium for the Economy

question 44

Multiple Choice

Which of the following have to be in equilibrium for the economy to be in equilibrium?

• A) the money market only
• B) the goods market only
• C) the output and assets markets
• D) the savings and investment markets
• E) the goods and output markets

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Definitions:

Recognizing Revenue

The process of recording revenue in the accounting records once it is earned and realizable, in accordance with relevant accounting standards.

Performance Obligation

A commitment in a contract to transfer a good or service to a customer, for which a company must satisfy to recognize revenue.

IFRS

International Financial Reporting Standards, which are a set of accounting standards developed by the International Accounting Standards Board (IASB) used globally to prepare public company financial statements.