12.2 Equilibrium in Aggregate Demand and Supply Analysis

question 75

Multiple Choice

12.2 Equilibrium in Aggregate Demand and Supply Analysis
AD - AS Equilibrium
-On the graph above,if inflation is falling,while the quantity demanded and output are rising,the economy may be at a point on ________.

• A)the aggregate supply curve above the aggregate demand curve
• B)the aggregate supply curve below the aggregate demand curve
• C)the aggregate demand curve above the aggregate supply curve
• D)the aggregate demand curve below the aggregate supply curve
• E)none of the above

Identify the function and impact of adjusting and closing entries on the financial statements.

Distinguish between temporary and permanent accounts and their roles in the accounting cycle.

Understand the purpose and process of preparing reversing entries and their impact on recordkeeping.

Recognize the preparation and significance of post-closing trial balance.

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