The Impact of Recession

question 14

Multiple Choice

The impact of recession

• A) is, in the aggregate, a more significant factor in social welfare than long run growth
• B) is more severe for professionals than for semi-skilled manual laborers
• C) is more severe for skilled workers than for unskilled workers
• D) causes larger declines in consumption among those aged 26 to 45 than among teenagers
• E) is most severe for the poorest members of society

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Definitions:

Ledger

A book or collection of financial accounts in which the two-fold effect of transactions are recorded.

Journal

An accounting record where financial transactions are entered in chronological order before being posted to accounts in the general ledger.

Dose Form

The physical form in which a medication is produced and administered, examples include tablets, capsules, liquid, or injection.

Absorption

The process by which substances are taken up into or across tissues, such as the absorption of nutrients by the digestive system or chemicals through the skin.