Which of the Following Is TRUE

question 11

Multiple Choice

Which of the following is TRUE?

• A)Inflation means an increase in the overall level of prices.
• B)Deflation refers to a decrease in prices only in the energy and transportation sectors.
• C)During inflation most people enjoy an increase in their standard of living even if their wages don't increase.
• D)Inflation was a problem for the first time in the recession of 1929-1933.

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Definitions:

Trustee

A person or firm that holds and administers property or assets for the benefit of a third party.

Business Judgment Rule

A legal principle that protects the decisions made by the board of directors of a corporation as long as those decisions are made in good faith, with due care, and in the best interests of the corporation.

Breach

A breach is the violation or breaking of a law, duty, or obligation, either by engaging in an action that is prohibited or failing to perform a required act.

Fiduciary Duty

A legal obligation of one party to act in the best interest of another when managing financial assets or decisions for them.