Jean Baptiste Say Believed in All of the Following EXCEPT

question 222

Multiple Choice

Jean Baptiste Say believed in all of the following EXCEPT that

• A)Supply creates its own demand.
• B)People work so that they can save.
• C)Everything produced in an economy is sold.
• D)The normal state of economic affairs is full employment.

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Definitions:

Historical Rate

The exchange rate at which a foreign currency transaction was converted to the reporting currency at the date of the transaction.

Closing Rate

The exchange rate at the balance sheet date, used for translating the financial statements of a foreign subsidiary into the parent company's reporting currency.

Spot Rate

The current market price at which a particular currency can be bought or sold for immediate delivery.

Reporting Period

This term refers to the specific time span for which financial statements are prepared, like a quarter or a year, to give insights into a company's financial position.