Which of the Following Statements Is Correct

question 1

Multiple Choice

Which of the following statements is correct?

• A)In the short run,unemployment and inflation are positively related.In the long run they are largely unrelated problems.
• B)Inflation and unemployment are positively related in the short run and in the long run.
• C)In the short run,unemployment and inflation are negatively related.In the long run they are largely unrelated problems.
• D)Inflation and unemployment are negatively related in the short run and in the long run.

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Definitions:

Income Statement

A financial statement that shows a company's revenues and expenses over a specific period, leading to net income or loss.

Insurance Expense

The amount a company spends on insurance policies to cover various risks, recorded as an expense in the accounting period in which it is incurred.

Debit

An accounting entry that increases an asset or expense account, or decreases a liability or equity account.

Credit

In accounting, it refers to the entry that decreases assets or increases liabilities and equity on the company's balance sheet.