Which of the Following Is Are True Regarding the Government

question 36

Multiple Choice

Which of the following is are true regarding the Government Accountability Office?

• A) The GAO establishes accounting standards applicable to the federal government and its agencies
• B) The GAO establishes auditing standards applicable to the federal government and its agencies
• C) Both a) and b) above
• D) Neither a) nor b) above

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Definitions:

Disinflation

A slowdown in the rate of inflation; the process whereby price increases slow down, but the general price level does not decrease.

Recession

A period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two consecutive quarters.

Age Group

A classification of people based on their age, typically used in demographics, marketing, and social studies.

Unemployment Rates

The percentage of the labor force that is jobless and actively seeking employment, often used as an indicator of the health of an economy.