In Figure 3-3 above, when income is 700, unplanned inventory investment is
A) -180.
B) 180.
C) 300.
D) -300.
E) -120.
E
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The price elasticity of demand depends on
A) the units used to measure price and the units used to measure quantity. B) the units used to measure price but not the units used to measure quantity. C) the units used to measure quantity but not the units used to measure price. D) neither the units used to measure price nor the units used to measure quantity.
An increase in the price of a firm's product
A) decreases its value of marginal product of labor. B) increases its demand for labor. C) increases its supply of labor. D) None of the above answers is correct.
Price level changes have their greatest effect on consumers'
a. income. b. wealth. c. debt. d. expectations.
Strategic trade policies are designed to increase the benefits of trade to
A. a single country. B. the world. C. everyone. D. the two countries entering an agreement.