Which of the Following Requires the Least Human Judgment

question 35

Multiple Choice

Which of the following requires the least human judgment?

• A) Accounting.
• B) Bookkeeping.
• C) Making estimates.
• D) Preparing financial statements.

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Definitions:

Inflation

The measure of how quickly the general pricing for products and services advances, decreasing monetary purchasing power.

Unemployment Rate

The ratio of individuals without employment, yet are actively pursuing job opportunities in the labor force.

Disinflation

A decrease in the rate of inflation, indicating a slowdown in the rate at which prices for goods and services increase over time.

Phillips Curve

An economic concept that illustrates an inverse relationship between the rate of inflation and the unemployment rate in the short run.