Short-Run Output __________ in the Last Quarter of 2008 and __________

question 42

Multiple Choice

Short-run output __________ in the last quarter of 2008 and __________ by the middle of 2009.

• A)growth was flat;recovered to a modest 1.2 percent
• B)was positive;fell to -3 percent
• C)turned negative;bottomed out at over -6 percent
• D)equaled zero;fell to -2 percent
• E)was rising;unemployment was 8 percent

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Definitions:

Goodwill

The intangible asset that arises when a company acquires another company for more than the fair value of its net identifiable assets.

Consolidated Balance Sheet

A financial statement showing the financial position of a company and its subsidiaries as one single entity.

Current Liabilities

Short-term financial obligations that are due within one year or within the normal business cycle of a company.

Consolidated Balance Sheet

A comprehensive financial statement presenting the total assets, liabilities, and shareholder equity of a parent company and its subsidiaries as a single entity.