The Model of Aggregate Demand and Aggregate Supply Can NOT

question 53

Multiple Choice

The model of aggregate demand and aggregate supply can NOT be used to:

• A) discuss the pros and cons of income tax cuts.
• B) evaluate a tax cut's effect on short run economic fluctuations.
• C) assess a tax cut's effect on longer run issues such as the national debt.
• D) to discuss income distribution.

Differentiate between negligence, fraud, and breach of contract in a professional context.

Understand the conditions under which professionals can be held liable for their actions and the defenses available to them.

Identify the role of auditing standards and the standard of care expected from professionals.

Comprehend the concept of privity and its implications for professional liability.